Grabiner Rejects eVentures For Investment Group

Stephen Grabiner, the former chief executive of ONdigital, has rejected a job at Rupert Murdoch’s eVentures, moving instead to investment group Apax Partners. Grabiner will be a director on the international media team at Apax.

At the time of his departure from ONdigital, it was understood that Grabiner had been offered a senior position at Murdoch’s internet investment arm, eVentures, where he would be working alongside former rival in the digital TV world, Mark Booth (see ONdigital Hit By Loss Of Chief Executive).

In a statement issued at the weekend, Grabiner said: “I am very excited about joining Apax Partners. I want to make Apax the first stop for media and internet entrepreneurs, both corporate and individual. I understand the management task in launching and growing business. When combined with the exceptional venture capital skills of Apax Partners, this will make us the obvious place for people with exciting ideas in new and traditional media.”

In the UK, Apax has backed the management buy-out of Virgin Radio by Chris Evans in 1997 (see Evans Snatches Virgin From Capital) and also holds a stake in Future Network, the magazine and internet publisher which floated on the Stock Exchange earlier in the year (see Price Set For Stake In Future).

Apax Partners: 0171 872 6300