Stephen Claar Swid (October 26, 1940 – October 6, 2019) was an American businessman and investor. He served as the chairman and chief executive officer of SESAC, Inc., one of the three performing rights organizations in the US.
Stephen Claar Swid
October 26, 1940
|Died||October 6, 2019 (aged 78)|
Bronx, New York City
|Education||Ohio State University|
|Occupation||Businessman and investor|
|Known for||founding of SBK Entertainment|
|Spouse(s)||Nan G. Swid|
Swid was also noted for founding SBK Entertainment and was also previously the co-owner of General Felt Industries, Sheller-Globe Corporation, Knoll International and the 21 Club, along with partner Marshall Cogan.
Born into a Jewish family, Swid was a graduate of Ohio State University. He went on to become founder and senior partner of Swid Investors, an investment limited partnership, as well as a general partner of the private management company City Associates, a senior investment officer at Oppenheimer Funds, and a securities analyst of the Dreyfus Fund.
Swid's first deal was the takeover of General Felt Industries (GFI) in 1974, which he completed with fellow investment banker Marshall Cogan. The duo would then merge GFI with Knoll International and use Knoll as a holding company to acquire a series of businesses. For twelve years, until July 1986, Swid was co-chairman and co-CEO of Knoll.
Among Swid and Cogan's most notable acquisitions were the takeover of the Sheller-Globe Corporation and, later, the purchase of the 21 Club. Cogan was unsuccessful in his high-profile bids to acquire the Boston Red Sox, Sotheby's and L.F. Rothschild in the buyout boom of the 1980s.
In 1986, Swid purchased CBS Songs, the music publishing unit of CBS, which would later become the beginning of SBK Entertainment World, a leading music publisher and worldwide entertainment services company. From November, 1986, until May, 1989, Swid was chairman and chief executive officer of SBK Entertainment World.
From February 1990 until January 1995, Swid was chairman and chief executive officer of Westview Press, an academic publishing company based in Boulder, Colorado, and from 1989 until 1997 the chairman and chief executive officer of Spin, a music and youth culture magazine.
Due to his interest in foreign relations and international diplomacy, Swid was a member of the Council on Foreign Relations and past director of the East West Institute.
Swid was an active supporter of the arts and education and currently serves as a director of The Municipal Art Society of New York. He was a trustee and chairman of the Executive & Finance Committee of The Solomon R. Guggenheim Museum and was a member of the Visiting Committee on 20th Century Art for the Metropolitan Museum of Art. He and his wife, artist Nan G. Swid, were financial supporters of the Jewish Theological Seminary of America.
- Sisario, Ben (October 10, 2019). "Stephen Swid, Music Licensing Innovator, Is Dead at 78". The New York Times. Archived from the original on 2019-10-10. Retrieved October 11, 2019.
- Israel Policy Forum: "Prominent US Jews Support Two States, Urge Abbas to Set Positive Tone" Archived 2014-11-07 at the Wayback Machine September 25, 2013
- Knoll Sells General Felt. New York Times, September 10, 1988
- Adding up the New '21'. New York Magazine, Jun 1, 1987
- "White Knight" - Time magazine – Monday, Jun. 27, 1983
- Rohleder, Anna. "Time Line: The Rise Of Christie's And Sotheby's" - Forbes.com
- Ten Survivors of the Wall Street Crash. New York Magazine, Jan 27, 1975
- Knoll Group Company History. Funding Universe
- CBS chose a buyer for its music publishing unit. LA Times, October 13, 1986
- New York Social Diary: "Full autumn night" October 24, 2012
- JTS: 2012 Commencement Bulletin Archived 2014-08-16 at the Wayback Machine May 2012
- New York Post: "Couple slaps neighbors with $1.13M suit for chopping hedges" By Julia Marsh February 5, 2014
- New York Daily News: "The Urge to Merge" by Michael Gross April 13, 2003
- Tower of Ambition. The New York Observer, February 4, 2001