Former CBS Execs, Led By Joe Ianniello, Launch $300M Media SPAC

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Former CBS Execs, Led By Joe Ianniello, Launch $300M Media SPAC
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A handful of former top CBS executives — led by former CBS CEO Joe Ianniello and former CBS Interactive chief Marc DeBevoise — are launching a new special purpose acquisition company (SPAC) targeti…

— are launching a new special purpose acquisition company targeting companies in the media, entertainment and sports sectors.

The SPAC, Argus Capital Corp., is looking to raise $300 million in an IPO which it will use to target a company in need of capital to take public. “Within these and other sectors, we seek to partner with late-stage growth companies as well as mature companies with the potential to accelerate growth through organic and transaction-driven strategies,” they write in their prospectus, adding that “we also intend to leverage our management team’s considerable industry relationships to seek out potentially mutually beneficial corporate carve-outs from existing conglomerate companies.

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