Strategic Investors: Profiles of investors with strategies to consider.
As an investment bank specializing in the media sector, Palazzo is navigating stormy seas. M&A activity is brisk and there has been no shortage of IPO activity, with both Pinterest and Zoom going public in April. Yet, the constant challenge of building and holding an audience — not to mention generating revenue amid the decline of the advertising model and growing clout of big tech companies like Apple and Google — has pushed bankers beyond their traditional deal-making role into advisory and consulting services.
Peter Cosco spent two decades in media at legacy giants such as Time Inc. and MTV Networks before migrating into financial services, first at the M&A firms Alvarez & Marsal and AlixPartners, then as a managing director at Cognizant, and finally at Palazzo.
He says the appetite among big, well-funded players to scoop up early movers and transformative startups remains strong: “It’s a pretty frothy environment for those businesses.” Cosco spoke with Karma Contributing Editor Michael Moran.