For 30 years, Blackstone Group LP has spent billions...
Last October, private equity firm Blackstone Group entered the digital media and marketing industry for the first time in its 30-plus year history by acquiring a minority stake in Ai Media, a search engine marketing organization that defines itself as an agency rather than an ad-tech company.
This week Blackstone, whose CEO Stephen Schwarzman currently serves as President Donald Trump’s economic advisor, reinforced its investment as Ai Media named John Bernbach chairman of the board.
Bernbach is a 45-year veteran of the ad industry who spent more than two decades at DDB, the agency launched by his father Bill in 1949. He had been advising Ai Media as CEO of the consulting firm The Bernbach Group, and he will work with company leaders moving forward to help the company expand and develop new offerings.