After stints at GE and Yahoo! Andrew Siegel will be joining Advance Publications‘s mergers and acquisitions department as the new SVP of corporate development. WWD’s John Koblin reports that Advance welcomed Siegel on the same day Discovery Communications bought back $500 million worth of stock from them. Siegel will have plenty of funds to play with and, according to advance.net chairmen Steven Newhouse, will be tasked with advancing the publisher’s digital strategy:
Because of his digital experience at Yahoo, he’s particularly well-suited to do deals in that space, and there are a lot of opportunities to do deals that might benefit Condé Nast.
Although Siegel has no print publishing experience he has filled similar roles as head of corporate development at GE and Yahoo!. In his time at Yahoo!, Siegel was the point man on the acquisitions of Associated Content and Citizen Sports. He will begin work at Advance on Jan. 3.