Western sports and entertainment company Teton Ridge on Monday announced the appointment of Shawn Colo as executive chairman.
The company also announced that Deirdre Lester will be stepping down as CEO to pursue new opportunities, according to a press release.
Colo will form an Office of the CEO with key longstanding members of the Teton Ridge leadership team, who bring a breadth of expertise spanning technology, business, sports, entertainment and Western culture.
“Together, they will lead the firm’s mission of making Western sports and entertainment more accessible and embed technology across the platform, while honoring the deep heritage of the American West,” the company said.
Colo brings an exceptional two-decade track record of success as an operator, investor, and entrepreneur building and growing businesses. Colo co-founded Demand Media, an early pioneer in social content and digital media, where he served initially as head of M&A and ultimately as CEO, leading the business from start-up to its successful IPO.
“With the ever-rising popularity of Western media, it is an incredible time to join the brand that is leading the movement,” said Colo in a statement. “Teton Ridge has amassed an impressive portfolio of leading sports and media assets, and I look forward to working with the senior leadership team to build a lasting sports and live events franchise.”
Most recently, Colo co-founded 3L, a growth equity investment firm focused on consumer and technology companies, where he continues to actively manage the Firm’s portfolio through various board responsibilities.
Lester became the CEO of Teton Ridge in the fourth quarter of 2023.
Under Lester, Teton Ridge acquired The Cowboy Channel, which includes The Cowgirl Channel and The Cowboy Channel+, a streaming and on-demand service. With the purchase, Teton Ridge also secured The Cowboy Channel’s exclusive licensing agreement with the Professional Rodeo Cowboys Association and its more than 600 sanctioned rodeos, which includes the National Finals Rodeo in Las Vegas.
Teton Ridge is owned by TWG Global, a diversified holding company led by Thomas Tull and Mark Walter. Teton Ridge was founded in 2019, with additional investors including Jim Breyer and the Lee Bass Family Office.
“We are a Western Sports media company with big ambitions,” said Tull. “Shawn’s private equity prowess, focus on innovation and proven ability to build best-in-class businesses make him the ideal leader to unlock Teton Ridge’s growth potential and elevate the brand both here in the US and globally.”