Washington, DC-based private equity firm The Carlyle Group has hired Norman Pearltstine, former Editor-in-Chief of Time Inc. and current senior advisor to Time Warner, as a senior advisor to the global telecommunications and media team.
Pearlstine, 63, served as Time’s editor-in-chief for eleven years, overseeing the editorial content of the unit’s 154 magazines, including Entertainment Weekly, Fortune, In Style, Money, People, Sports Illustrated and Time. Before working at Time Pearlstine worked in a variety of reporting and editor positions at The Wall Street Journal from 1968 to 1992, with a brief absence from 1978-1980 when he was an executive editor of Forbes Magazine.
Chris Ullman, a spokesperson for Carlyle, said Pearlstine will help identify trends in the media sector for Carlyle’s buyout, venture and growth capital teams. He added that Carlyle is planning to aggressively go after the media sector in the future.
“We are trying to bolster the media part of our telecom team,” he said. “We have experience in that area but it would be hard to find someone with the scope of experience Mr. Pearlstine has in the media world. He will help with understanding the market and developing leads for possible acquisitions.”
Carlyle’s current telecom holdings include cable company Inside Communications and Dutch conglomerate VNU, which owns Nielson Ratings. The firm also used to own French newspaper Le Figaro.