Written Testimony of

Leo Hindery, Jr.

Managing Partner, InterMedia Partners
Chairman and CEO, Trine Acquisition Corp.

Submitted to the
New York Public Campaign Financing Commission
at Its Public Hearing in New York City

September 10, 2019

Thank you for this opportunity to submit testimony to the New York Public Campaign Financing
Commission. As a decades-long New Yorker and member of the business and philanthropic
communities here, it is exciting to see the steps taken this year to implement small donor public
financing. I have been involved in the push for small donor public financing in New York State
for years and recognize the historic significance of this Commission’s work.

I am Managing Partner of InterMedia Partners, a media industry private equity fund based in
New York, and the Chairman and Chief Executive Officer of Trine Acquisition Corp, an NYSE
media industry SPAC. I have also served as the Chief Executive Officer of the YES Network,
AT&T Broadband, and GlobalCenter Inc.

In addition to my work in media, I have a long history of involvement in government and

politics. I serve on the board of Common Cause New York, am a member of the Council on
Foreign Relations, and was the Senate-appointed member of the HELP Commission which was
responsible for improving U.S. foreign assistance. I also advised former President Barack
Obama’s campaign on trade and economic issues.

Finally, I am a member of New York Leadership for Accountable Government, or NY LEAD, a

group of over 80 business, civic, and philanthropic leaders in New York who are calling on this
Commission to design a comprehensive small donor match public financing system.

From my experience in both business and politics, I have seen firsthand the outsized influence of
corporate money in our elections and how it only got worse after the Supreme Court’s ruling in
Citizens United v. Federal Election Commission. This decision has allowed a select and wealthy
few, who often represent corporate interests, to exercise extremely disproportionate influence on
the American democratic process.

New York State’s campaign finance system is equally broken. Wealthy interests dominate
elections for seats in Albany, resulting in policies that do not reflect the interests of working New
Yorkers. Given recent Supreme Court decisions and New York State’s lax campaign finance
regulations, the demand for people in business to contribute large sums has increased rapidly.
Under this system, big contributions from corporations and their CEOs drown out the political
needs of less-connected small businesses, organizations, and individual New Yorkers.

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New York State needs a public financing program, ideally one modeled after New York City’s
multiple match. This reform would shift the status quo in Albany, encouraging candidates to
spend more time with residents instead of dialing for dollars from megadonors. By reorienting
the focus of campaigns, small donor public financing encourages elected officials to better
understand the concerns of their constituents. The current campaign finance system does not
inspire the public’s faith in its state government. Small donor public financing would help
change that. While we may not have an appropriate window of opportunity to challenge Citizens
United in the courts, this Commission and its mandate to design a public financing system for
New York State represent the most significant step taken by any state to combat the pernicious
impact of that 2010 decision.

This Commission must design a system that will make New York’s government more
representative of the people. A public financing system that encourages transparency and healthy
competition benefits not only candidates and constituents, but also businesses. Establishing a
comprehensive public financing system would make New York a beacon of democracy for the
nation.