Carlyle exec defects to Bloomberg

Former Time editor-in-chief Norman Pearlstine, who joined Carlyle in 2006 to advise on media deals, has left the private equity firm to scout growth opportunities for Bloomberg news.

Norman Pearlstine has departed his post as Carlyle Group senior advisor for telecom and media to take up the newly created post of chief content officer at Bloomberg.

Pearlstine left Carlyle while his contract with the private equity giant was still in place, according to a source familiar with the situation.


In his new role, Pearlstine will work alongside Bloomberg News founder and editor-in-chief Matthew Winkler to “seek growth opportunities for its television, radio, magazine and online products and to make the most of existing Bloomberg News operations”, according to a statement.

The role does not come with specific responsibilities, according to a Bloomberg spokeswoman. “We are a very entrepreneurial organisation,” she said. “Norm will be working side by side with Matt and developing new ideas for how we can integrate our news functions.”

Both Pearlstine and Winkler report to Bloomberg president Dan Doctoroff who called the pair “one of the most powerful teams in journalism” in a statement. The two worked together in the 1980s at the Wall Street Journal and first discussed teaming up again last December when Pearlstine presented Winkler with an Emmy Award for Lifetime Achievement in Business and Financial Reporting, according to a statement.

Prior to joining Carlyle in September 2006, Pearlstine was for 11 years the editor-in-chief of Time, the magazine division of Time Warner. Prior to Time, he spent 23 years at the Wall Street Journal where he rose to executive editor.

A Carlyle spokeswoman declined to comment beyond a prepared statement lauding Pearlstine’s contributions to the firm and wishing him well.