"Code Advisors," a new media investment bank launching tomorrow, is banking on a surge in media and tech deals, and old media's need to get new media savvy.
The firm is co-founded by Quincy Smith, a former Allen & Co. lawyer who ran CBS Interactive, Fred Davis, a top entertainment lawyer with a reputation for tackling monetizing digital content, and Michael Marquez, also a former CBS Interactive exec, whose claim to fame is overseeing a number of acquisitions by Yahoo.
I chatted with the co-founders earlier this week about their plans for the new venture. They stressed that they want to "expand the role of banker" well beyond transactions. Clearly the bread and butter of this firm will be M&A and IPOs, but they expect to take on a consulting role for companies.
They've signed CBS and Comcast as well as music streaming service Spotify for ongoing consulting; they'd like to add a major tech company like Google, Microsoft, or Yahoo to that list. They'll advise on issues like monetizing digital content and potential acquisitions.
These guys have plenty of experience with deals — the acquisition of up-and-coming companies to media and tech giants. They've jumped ship from stable work elsewhere, only because they see this market having a massive resurgence. There's clearly billions of dollars on the sidelines, especially at the tech and Internet giants like Microsoft and Google, and even at the likes of Time Warner and News Corp.
They see the continuing clash of media and technology providing a huge opportunity -- I'll be curious to see what their first deal is. And we'll see what we can make of Comcast and CBS working with Code. Even after the NBC Universal acquisition, Comcast must still be on the lookout for more deals.
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