Thomas Gahan Joins Providence Equity

Thomas Gahan has joined Providence Equity Partners as president of the firm’s capital markets group, which invests in the debt of media, entertainment, communications and information companies. He previously was CEO of Deutsche Bank Securities and head of corporate and investment banking in the Americas.


Providence, RI, September 24, 2008 – Providence Equity Partners, the leading global
private equity investment firm specializing in media, entertainment, communications and
information companies, announced today that Thomas Gahan has joined Providence as President
of the firm’s newly established Capital Markets Group.  He will be based in the firm’s New York

Providence’s Capital Markets Group invests in the debt of media, entertainment,
communications and information companies worldwide – the same sectors in which the firm has
made equity investments for nearly 20 years.  Providence has recently acquired over $2.5 billion
in credit securities.

Mr. Gahan, 46, was most recently Chief Executive Officer of Deutsche Bank Securities
Inc. and Head of Corporate and Investment Banking in the Americas.  He was also the Global
Head of Capital Markets at Deutsche Bank and a member of the Global Banking Executive
Committee and the Global Markets Executive Committee.  Mr. Gahan joined Deutsche Bank in
1999 to establish its Global Credit Products effort, and he built the firm’s capability in leveraged
and structured finance into market-leading businesses.

“Tom brings world-class experience building and successfully managing capital markets
businesses, particularly in credit investing where he has worked to finance some of the most
successful and sophisticated transactions in history,” said Jonathan Nelson, Chief Executive
Officer of Providence.  “We know Tom well, having worked with him over many years and
transactions.  We believe that Tom is the ideal person to lead our growing capital markets

“We have recently invested significant capital in attractive corporate debt securities and
continue to see significant credit market opportunities across the industries where we specialize,”
said Paul Salem, a Senior Managing Director of Providence  “With Tom on board, we are now
well positioned to capitalize on the opportunities created by the unprecedented volatility and
dislocation in the market.”

“This is an exciting opportunity for me to help take the credit investment activities of one
of the world’s premier private equity firms to the next level,” said Mr. Gahan. “The Providence
team’s unparalleled knowledge of the global media and communications industries will be
invaluable as we invest in these same areas.  We will employ the same discipline in our credit
investing that has driven Providence’s long-term success in private equity.  I look forward to
working with the entire Providence team as we expand the platform over the long term.”

After founding Deutsche Bank’s Global Credit Products business, Mr. Gahan grew the
firm’s M&A, equity and corporate advisory practices, more than doubling its market share in US
investment banking fees as a result.  Before joining Deutsche Bank, Mr. Gahan spent 11 years at
Merrill Lynch in a number of capacities, most recently as Global Head of Credit Trading within
the Fixed Income Division, where he oversaw the firm’s global activities in the high yield,
investment grade, distressed, emerging market, loan syndicate and credit derivative arenas.

Mr. Gahan graduated with a B.A. in Economics from Brown University in 1984.

About Providence Equity Partners
Providence Equity Partners is the leading global private equity firm specializing in equity
investments in media, entertainment, communications and information companies around the
world. The principals of Providence manage funds with approximately $22 billion in equity
commitments and have invested in more than 100 companies operating in over 20 countries since
the firm’s inception in 1989. Significant investments include Bresnan Broadband Holdings,
Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Freedom
Communications, Hulu, Idea Cellular, Kabel Deutschland, Metro-Goldwyn-Mayer, NexTag,
Ono, Open Solutions, PanAmSat, ProSiebenSat.1, Recoletos, TDC, Univision, VoiceStream
Wireless, Warner Music Group, Western Wireless and Yankees Entertainment Sports Network.

Providence is headquartered in Providence, RI (USA) and has offices in Hong Kong, London,
Los Angeles, New Delhi and New York.  Visit for more information.