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Chris Albrecht is leaving IMG

August 13, 2008|From Times Staff and Wire Reports

Former HBO Chief Executive Chris Albrecht's 11-month partnership with financier Ted Forstmann came to an abrupt end Tuesday -- falling short of their goal to mold IMG Entertainment into a programming powerhouse.

Albrecht joined IMG as a partner in September, four months after being forced out from Time Warner Inc.'s HBO in the wake of his arrest in Las Vegas on suspicion of assaulting his girlfriend.

Albrecht had built HBO into a profitable juggernaut with such hits as "The Sopranos," "Sex and the City" and "Six Feet Under."

IMG said market conditions frustrated Albrecht's plans for a strategic financing group that, with IMG as a lead investor, would raise as much as $250 million to expand its entertainment business.

"The parties are separating on an amicable basis," IMG said in a statement.

Albrecht declined to comment. IMG said he planned to restart his company, Foresee Entertainment.

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