After serving two years as senior vice president,[14] McGrath was named president and COO of Norman Lear's entertainment company Act III Communications in December 1987.[15] He filled that role until 1990.[10] While at Act III, McGrath expanded its broadcast, publishing, and exhibition operations, worked on television station acquisitions, and financed multiple films, including Stand By Me, The Princess Bride, and Fried Green Tomatoes.[13]
Time Warner
In the 1990s, McGrath was named President International of Time Warner International Broadcasting.[12] At Time Warner, he created Classic FM, a national radio network in the UK; n-tv, a German-language national cable news channel; and VIVA, a national German music video channel.[16]
McGrath led Viacom's acquisition of Paramount Pictures in the 1990s.[12] He joined Viacom in 1994 as executive vice president and chief operating officer of the Viacom Entertainment Group, where he served until 2004.[10] While at Viacom, McGrath was involved in several musical adaptations of Paramount films, including White Christmas, Footloose and Saturday Night Fever.[17] In February 2002, McGrath was named President of Paramount Enterprises, Viacom's division for non-studio entertainment properties, including Paramount Parks, Canadian cinema chain Famous Players, and United Cinemas International.[18]
McGrath serves as the Chairman of Crossroads Media,[26][27] a private equity firm that acquires music publishing catalogues.[28] Working with Spectrum Equity Investors, he led the acquisitions of independent music publishing companies, including Bug Music in 2006[26][29][30] and Windswept Holdings in 2007.[28] McGrath served as chairman of Bug Music[27] through its sale to BMG in 2011.[26]
McGrath was the chief operating officer of media company STX Entertainment from its formation in 2014 until May 2019.[31][32] The company specializes in financing, developing, producing, and distributing midtier-budget star-driven films.[33] STX has produced and distributed such films as The Gift, Bad Moms, The Edge of Seventeen, The Foreigner, and Molly's Game.
In April 2018, STX filed for an initial public offering on the Hong Kong Stock Exchange.[34] This was originally reported in 2017 with an estimated market value as high as $3.5bn±.[35][36]
Crossroads Live
McGrath was the CEO of Crossroads Live, which produces and tours Broadway musicals in international markets.[4] Crossroads Live invests in multiple live entertainment ventures, including festivals, immersive attractions, musical theatre production and touring, and financial transactions with live entertainment companies and assets. The company also spans across film, television, music, and theme park industries. In 2019, Crossroads Live acquired David Ian Productions, and, in December 2020, the company also acquired the Gordon Frost Organization.[37][38] Most recently, Crossroads Live has produced Mrs. Doubtfire, Company and Almost Famous the Musical.[39]