Albrecht was appointed as head of IMG Global Media last September, when IMG Worldwide chief executive Ted Forstmann said he was expanding the agency's media and entertainment content division with a $250m (£132.7m) investment.
However, Forstmann and Albrecht issued a joint statement yesterday confirming that the initiative had proved unsuccessful.
They said: "Market conditions intervened to frustrate that goal. The parties are separating on an amicable basis, regretful that the association was unable to work."
Albrecht said that he will return to his independent content firm Foresee Entertainment, a business he set up before he joined IMG.
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