Wednesday, July 19, 2006

Pearlstine To Join Carlyle Group | The Huffington Post

Eat The Press | The Huffington Post:
"Former Time Inc. Editor-in-Chief Norman Pearlstine is to join elite private equity firm the Carlyle Group as a senior advisor, reports Keith Kelly. He will leave his current position as senior adviser to Time Warner to which he ascended after leaving the executive editorship of Time Inc."
Satirists no longer have to make up jokes.

The progression:
Editor, Time (making sure the proper spin is put on the news) ->Senior Advisor, Time-Warner (making sure the proper spin is put on news, entertainment—in short, the intellectual commons) -> Carlyle Group Associate (getting his reward—cashing in his connections and influence for a piece of the $13+ billion dollar Carlyle pie)

Obviously, the Carlyle Group thinks his expertise will help them make money, because that's what they do.

From Wikipedia:

"Though known for its expertise in aerospace & defense, more than 30 percent of Carlyle’s invested assets are in the telecommunications & media sector. Noted portfolio companies are Dex Media, the former directories business of Qwest Communications; Willcom, a Japanese wireless company; Casema, a Dutch cable company; and Insight Communications, the ninth largest cable company in the U.S.

"Brand-name companies that Carlyle owns include: rental car company Hertz, Dunkin’ Brands, which owns Dunkin’ Donuts and Baskin-Robbins, and dental hygiene company Water Pik."


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