Kevin Mayer, Tom Staggs, Shaquille O’Neal Join Forces for Media-Focused Acquisition Group

Former NBA star Shaquille O’Neal has joined former Disney executives Kevin Mayer and Tom Staggs to create Forest Road Acquisition Corp., a SPAC investment vehicle with the goal of raising $250 million for media and technology acquisitions. According to a filing with the SEC, Mayer will serve as a strategic adviser, Staggs will be director and chairman of the Strategic Advisory Committe and Salil Mehta, another former Disney executive, will serve as chief financial officer. O’Neal will also be a strategic adviser, as will producer Mark Burg. Martin Luther King III will be a director. Also Read: Behind Kevin Mayer's Sudden Exit From TikTok: Bad Fit, Reputation Fears The special-purpose acquisition company (or SPAC) plans to raise $250 million for acquisitions in the technology, media, and telecommunications sectors. SPACs, occasionally referred to as “blank check companies,” are shell companies designed to allow investors to pool capital to fund mergers or acquisitions with the intention of finding opportunities after establishing the company. They typically serve as a way for individual investors to participate in actions normally reserved for professional investment companies. According to the Wall Street Journal, there has been a rise in the creation of SPACs as a result of...

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