Daily News: October 21, 2014

A&M Adds Media Veteran

Alvarez & Marsal (A&M) added media industry veteran Peter Cosco to its Performance Improvement practice, further enhancing the firm’s expertise in the media, entertainment and sports sectors. He joins as a managing director based in New York.

Immediately prior to joining A&M, Cosco founded and led 4Forces Group, a firm focused on improving the performance of resource-constrained companies. He has served as an interim executive, leading global, cross-functional marketing, business development and sales teams at public and private companies. As a consultant and advisor, he has served clients including Lufthansa Airlines, Deloitte, Kaye Scholer, Cardiovascular Research Foundation (CRF), Epiq Systems and Reputation Institute. In addition, he designed and launched a professional sports practice, serving professional sports leagues, clubs and stakeholders in the U.S. and the U.K. Prior to 4Forces Group, he was the global chief marketing officer for AlixPartners.

“Peter’s appointment reflects A&M’s commitment to serving the needs of the media and entertainment industries at a time when companies in these sectors are experiencing massive transition and disruption,” said Joseph Berardino, managing director in charge of the East Region of Alvarez & Marsal’s Performance Improvement practice. “As the landscape continues to shift, his background, expertise and bias toward results further strengthens our capabilities and enhances our ability to serve organizations facing complex business challenges and the pressing need for reinvention.”

With 20 years of specialized media experience, including a strong focus in operations and revenue enhancement, Cosco bolsters A&M’s capacity to help print, broadcast, digital and multimedia entities and companies that serve them, reimagine their business models to better align with the realities of the new media economy. Over the course of his career he has served in senior operating roles with companies including Discovery Communications, Viacom, Time, New York Times Magazine Group and Rodale Press and as a consultant to organizations such as Bloomberg Media, Meredith Xcelerated Marketing (MXM) and Cross MediaWorks. His background also includes working with mid-sized media and advertising service companies, as well as some of the world’s largest advertising holding companies, such as Ominicom and IPG.

“Media consumption habits have completely changed over the last decade. Traditional media companies and ad agencies have had to reexamine their tried and true business models, often turning them on their heads in order to survive,” said Cosco. “Brands are equally affected. Rapid developments in technology, big data and analytics have given birth to a host of new tools targeting consumers more directly. Meanwhile, individuals are empowered through social media to become their own content publishers, ultimately shaping brand and corporate reputation.”