Former FCC Chairman Michael Powell Joins Providence Equity Partners as Senior Advisor

Business Wire, August 11, 2005

PROVIDENCE, R.I. -- Providence Equity Partners Inc., the leading private equity investment firm specializing in media, communications and information companies, announced today that Michael K. Powell, former Chairman of the Federal Communications Commission, has joined the firm as a senior advisor. He will advise the firm on technology and regulatory issues in the media, communications and information industries, on selected new investment opportunities, and on certain of the firm's existing investments. Mr. Powell has chosen to affiliate exclusively with Providence Equity Partners in the private equity field.

Prior to joining Providence Equity Partners, Mr. Powell spent over seven years as an FCC Commissioner, and was Chairman of the FCC from January 2001 to March 2005.

"Michael brings a wealth of experience in media, communications and information, deep knowledge of the changing technology and regulatory environment, and an exceptional network of relationships across the industry," said Jonathan Nelson, Chief Executive Officer of Providence Equity Partners. "Michael will advise us on some of our current investments and will assist us in identifying and pursuing new opportunities in his areas of expertise. We are extremely pleased that he will join Providence Equity, and we look forward to his contributions to the firm."

"Serving as a senior advisor to Providence Equity, the preeminent private equity firm in the global media, communications and information industries, provides a unique opportunity for me to apply my experience," said Michael Powell. "Providence Equity has a portfolio of market-leading investments, an exceptional track record of delivering superior returns to their investors, and a superb group of investment professionals in the U.S. and Europe. I am very committed to helping Providence Equity reach even greater heights, and look forward to working with the entire Providence team to build on the firm's market leadership and help secure new investment opportunities."

"Michael Powell had a wide range of opportunities to choose from, and we are deeply gratified that he has chosen to become part of Providence Equity," said Glenn Creamer, Senior Managing Director. "He has great insights in many of the areas in which the firm specializes, and his counsel will be invaluable to us as we continue to focus on producing superior returns for our investors."

"Michael Powell's unusual blend of technological and regulatory expertise in the sectors where Providence invests makes him an ideal addition to the firm's intellectual capital," said Paul Salem, Senior Managing Director. "We all look forward to working with him."

Before being named an FCC Commissioner in 1997, Mr. Powell was Chief of Staff of the Antitrust Division in the Department of Justice. In that capacity, he advised the Assistant Attorney General on substantive antitrust matters, including policy development, criminal and civil investigations and mergers. Before joining the Department of Justice in 1996, Mr. Powell practiced law with the firm of O'Melveny & Myers LLP, and just prior to joining the firm clerked for the Honorable Harry T. Edwards, Chief Judge of the United States Court of Appeals for the District of Columbia Circuit.

Before starting his legal career, Mr. Powell served as an international policy advisor to Secretary of Defense, Richard B. Cheney. In addition, his experience includes military service as an armored cavalry officer in the United States Army. Mr. Powell graduated in 1985 from the College of William and Mary with a Bachelor's degree in Government. He earned his J.D. degree from Georgetown University Law Center.

Mr. Powell serves on the Board of Visitors of both the College of William and Mary and the Georgetown University Law Center. He is also a Henry Crown Fellow of The Aspen Institute.

About Providence Equity Partners Inc.

Providence Equity Partners Inc. is a global private investment firm specializing in equity investments in media, communications and information companies around the world. The principals of Providence Equity manage funds with over $9.0 billion in equity commitments, including Providence Equity Partners V, a $4.25 billion private equity fund, and have invested in more than 80 companies operating in over 20 countries since the firm's inception in 1990. Significant investments include VoiceStream Wireless, PanAmSat, AT&T Canada, Western Wireless, eircom, Casema, Kabel Deutschland, Language Line, Metro-Goldwyn-Mayer, F&W Publications, ProSiebenSat.1, Nextel, Warner Music Group, Recoletos, and Bresnan Broadband Holdings. Providence Equity has offices in Providence, Rhode Island, London, England, and New York, New York.