Former longtime CBS executive Joseph Ianniello has launched a special purpose acquisition company, or SPAC, with a handful of former colleagues to scout for acquisitions in media, entertainment and sports.
The firm called Argus Capital Corp, filed with the Thursday to raise up to $300 million, offering 30 million units at $10. Ianniello is chairman and CEO of the group.
The exec was most recently CEO of CBS Entertainment Group and had served as acting chief executive of CBS prior to its merger with Viacom. He’s joined by Argus president and vice chairman Marc DeBevoise, who was most recently CEO of ViacomCBS Digital.
The idea as with other SPACs is to leverage management’s combined experience and target the media, entertainment, and sports industry, including “over-the-top” digital streaming, mobile gaming/interactive entertainment, digital media including advertising/marketing technology, health and wellness/lifestyle, live events/experiential consumer-facing technology, and related industries.”
Argus Capital plans to list on the Nasdaq under the symbol ARGUU.
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