Independent news has never been so important.

Did you know that you can get Democracy Now! delivered to your inbox every day? Sign up for our Daily News Digest today! Don't worry, we'll never share or sell your information.

Carlyle Group Buys Loews Cinema, Other Telecoms

HeadlineJun 23, 2004

The defense investment firm Carlyle Group has purchased a portion of Loews Cinema for $2 billion. Carlyle Group is an investment firm with close ties to the Bush administration and the Saudi royal family. The former president Bush once served as an advisor. The current President Bush once headed a Carlyle-owned company. The sale coincidentally was announced just before the opening of Michael Moore’s new film Fahrenheit 9/11 which examines Bush-Saudi ties as well as the Caryle Group. On Tuesday the motion picture film board rejected an effort by Moore to have his documentary rated PG-13 instead of R. The Washington Post also reports Carlyle Group has recently been buying up numerous major assets in the telecommunications industry including DDI, one of Japan’s largest wireless data providers, the satellite network owner PanAmSat, and the phone directory company Dex Media. Carlyle is also attempting to buy Verizon’s contract for local phone business in Hawaii.

The original content of this program is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 United States License. Please attribute legal copies of this work to Some of the work(s) that this program incorporates, however, may be separately licensed. For further information or additional permissions, contact us.

Non-commercial news needs your support

We rely on contributions from our viewers and listeners to do our work.
Please do your part today.
Make a donation