Thursday, May 25, 2017

R.I.P.: Media Mogul Jerry Perenchio Was 86

Jerry Perenchio
Media mogul A. Jerrold “Jerry” Perenchio, who amassed a fortune by building a powerhouse TV production company and later the Spanish-language network Univision, and was among California’s most prolific philanthropists and political donors, has died.

He was 86, reports Variety.

Perenchio died of lung cancer at his Bel Air home on Monday, a family spokesperson told the Los Angeles Times.

His personal wealth, along with an early career managing high-profile stars and promoting major sporting events, belied a fierce determination to stay out of the limelight, in which he granted few interviews and rarely allowed his associates to do the same.

A partner with Norman Lear in the production of such shows as “The Jeffersons” and “One Day at a Time,” Perenchio made a fortune on megahits of the 1970s, particularly from the sale of the shows into syndication.

No media investment, however, was as lucrative for Perenchio as the one in Univision, which he sold to a consortium led by Haim Saban at a price of $13.7 billion in 2007. According to Forbes, Perenchio netted $1.1 billion on an initial $33 million investment. In 2014, the magazine estimated his net worth at $2.6 billion.

According to The LA Times, he did business on his terms – not anyone else's.

That was keeping with his “Rules of the Road,” a list of business maxims that he demanded his executives follow. Typed single-spaced, in all capital letters, his 20 no-nonsense rules were quintessential Perenchio. They include:

No. 1: Stay Clear of the Press. No Interviews, No Panels, No Speeches, No Comments. Stay Out of the Spotlight – It Fades Your Suit.
No. 2: No Nepotism, No Hiring of Friends.
No. 3: Never Rehire Anyone.
No. 12: When you Suit Up Each Day it's to Play in Yankee Stadium or Dodger Stadium. Think Big.
No. 14: Loose Lips Sink Ships!
No. 16: A True Leader is Accessible — No Job Too Big, No Job Too Small.
No. 18: If You Make a Mistake, Admit It. Just Don’t Make Too Many.
No. 20: Always, Always Take the High Road. Be Tough but Fair and Never Lose Your Sense of Humor.

Perenchio’s penchant for privacy was particularly unusual in the land of high-octane egos and personal publicists.

No comments:

Post a Comment