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Was Ross Levinsohn Fired For Raising His Own Fund?

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Everything we’ve heard until now about the departure of Ross Levinsohn, from News Corp implied that the man who put together the deal to scoop up MySpace left voluntarily, to pursue other interests—perhaps to go work at a start-up of some sort. Sure his resignation was sudden and unexpected. But there was no indication of anything but good will on everyone’s part. In fact, Business Week's story, "Why Ross Levinsohn left" reported "The company bid Ross Levinsohn a warm farewell and even suggested that a partnership with his new venture may be possible."
This interview at D7TV with Red Herring'sTony Perkins, however, has us looking to Levinsohn’s departure in a new light. According to Perkins, Levinsohn was forced out when News Corp discovered that Levinsohn was raising money to start his own venture fund.
Here’s what Perkins tells the D7TV interviewer: “He got raising money for another deal. So the chief operating officer Peter Chernin, who works for Rupert as his right hand man—when his kids aren’t running the place, called Ross into his office and said, ‘Is this true, that you’re raising this half a billion dollar roll-up fund?...And he [Chernin] goes, ‘Are you either in or your out?’ And he [Levinsohn] said, ‘Well, I guess I’m out.”
Now the interview takes place at a party, and is very informal, so maybe we shouldn’t take it too seriously. But Perkins seems very confident with his statement.
Perkins Interview [D7TV.com via Paul Kedrosky]

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