Channel 4 chief Mahon to run live entertainment group Superstruct
Sky News has learnt that Ms Mahon, whose departure after eight years at the state-owned broadcaster was announced earlier this week, is to take the helm at Superstruct Entertainment.
Superstruct, which is owned by the buyout firms KKR and CVC Capital Partners, is expected to announce the appointment this week, according to private equity insiders.
It is understood to have been briefing festival management teams on Ms Mahon's move on Wednesday morning.
Her arrival will give Ms Mahon the opportunity to earn a more lucrative remuneration package than the one on offer to her at Channel 4.
Superstruct owns and operates more than 80 music festivals across ten countries in Europe and Australia.
Since the company was established in 2017 by Providence Equity Partners, its former owner, Superstruct has expanded both organically and through acquisitions into a major live entertainment group.
Its portfolio includes some of Europe's most popular festivals, including Wacken Open Air, Defqon.1, Tinderbox, Boardmasters and Sónar, which is held annually in Barcelona.
KKR and CVC both declined to comment on Wednesday.
Ms Mahon's arrival at the company comes nearly a year after it was bought by KKR in a deal worth about £1bn.
CVC took a minority stake in the business several months later.
Her exit from Channel 4 came as little surprise given the length of her tenure, and leaves the television group hunting a new boss.
"I feel lucky beyond belief to have had the chance to lead Channel 4 for nearly eight years - through calm seas (very few) and stormy waters (more than our fair share)," Ms Mahon said on Monday.
"From navigating the threat of privatisation (twice), to shifting out of London, to digital transformation, lockdowns, political upheaval, advertising chaos - there has never been a dull moment."
Channel 4 was in line to be privatised under the last Conservative government, with a number of bidders weighing offers for it before the process was pulled.
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