Former CNN and NBCUniversal boss Jeff Zucker , private equity firm RedBird Capital Partners and Abu Dhabi-based International Media Investments have formalized plans for a joint venture. RedBird IMI , as the new entity is known, has $1 billion in committed funds aimed at “large-scale” media and sports investment opportunities, participants said. Zucker will be CEO of the venture and he is also joining RedBird as an operating partner. RedBird, which was founded by former Goldman Sachs banker Gerry Cardinale, has recently teamed with Ben Affleck and Matt Damon on their new company. It is a stakeholder in Skydance as well as the XFL, which was bought out of bankruptcy by Dwayne Johnson and Dany Garcia. Word of the Zucker-RedBird venture first surfaced last month . Zucker left his post at WarnerMedia overseeing sports and news after disclosing a consensual relationship with former colleague, Allison Gollust. While many in the CNN ranks had long known the pair had … [Read more...] about Jeff Zucker, RedBird Capital And Abu Dhabi’s IMI Formalize Joint Venture With $1B Earmarked For Media And Sports Investments