Former Federal Communications Commission chairman Julius Genachowski has landed himself a lucrative new gig in private equity. In his new position as managing director and partner for The Carlyle Group’s U.S. buyout team, he’ll take what he knows about telecom, media and technology in finding investment opportunities for the Washington, D.C.-based company to pursue.
Since leaving the commission last May, Genachowski took the usual path of former FCC commissioners, becoming a senior fellow at liberal think tank Aspen Institute and teaching a class at Harvard’s business and law schools.
Now it’s time to cash in and use his decade of business experience prior to the FCC. Named by Business Week as one of the 25 managers to watch in the media sector, he helped build IAC/InterActive Corp (which owned Internet and media business including Expedia, Ticketmaster and USA Network).
"It's an exciting time in the space, with an ongoing wave of innovation creating significant opportunities for investment. I'm grateful to have been part of developments around tech, media and telecom for many years, working with some of the best in the business, and I'm looking forward to joining my new and superbly talented Carlyle colleagues to help find and build businesses."
Carlyle has invested more than $18 billion in familiar media, tech and telecom firms including Nielsen, AMC Entertainment, and Insight Communication.
There should be no shortage of prospective companies for Genachowski to peruse. A good start would be this week’s International CES in Las Vegas where last year he was dubbed "the spectrum chairman" in a one-to-one interview with the CEA's chief Gary Shapiro. Let us know if you see him prowling the halls.