The Outstanding Career of Jeffrey Stevenson in the NewYork Based Company, Veronis Suhler Stevenson (VSS)
The managing director of VSS, Jeffrey Stevenson, is a graduate of Rutgers College. He completed college in 1982 having spent his college years pursuing economics and managing the school’s newspaper. Through an introduction to the founders of M&A Company, John Veronis and John Suhler, he joined the company after completing school. M&A was one of the first investment banking firms to venture into media. The sale of a TV Guide to Murdoch for $3 billion put the firm on the map.
Details about the Company’s First Fund
Following the company’s success in advising cable Tv, television, magazines publishers and radio companies, the firm started its first fund in 1987. The fund was managed by Jeffrey Stevenson, who was the inspiration behind the idea. Therefore, it was only natural that he controls the fund.
The $57 million funds focused on broadcasting, publishing and cable television sectors. The fund faced tough times when the market crashed in October 1987. However, through perseverance, the company managed to revive the fund.
The fund’s first deal was with a Wichita television station. They then brought in a group that dealt in magazines and later on a cable television firm based in Ireland. It was then that they started to venture into international markets.
Navigating through the Industry’s Cultural and Technological Changes
With the advancements in technology, the culture of the industry had to adapt. Some giant media firms started to shift from advertising and print to business information services. The sector began generating revenue through subscriptions.
The subscription model was attractive as the revenue generation was recurring. The running costs were also minimal as it eliminated the need to produce and distribute print materials. This time was confusing for the NewYork firm; it was difficult to predict whether or not the shift to digital would be permanent.
The VSS constituency was more inclined towards the traditional media. At the same time, some people in the company believed that adapting to the changing time was ideal. In 2001, Jeffrey Stevenson became a named partner amid all this confusion.
Jeffrey Stevenson has enjoyed a long and fruitful career in a company he joined at a young age and worked his way to become one of its indispensable resources.