Monday, August 07, 2006

It's far from this he was reared

Today's New York Times has a story on a high profile investment by the private equity fund in which Bono is a partner; the Elevation Partners group is buying a large stake in Forbes, which includes the eponymous magazine and the associated website. On the PR side, the group seems to be struggling to make it sound like Bono was closely involved with the decision:

"It says that we are in the business of helping content creators in the traditional media world manage the transition imposed by the Internet," [Roger McNamee, Elevation partner] said. Bono was not directly involved in the Forbes meetings, but Mr. McNamee said that the singer was attracted to the magazine because it "has a point of view," adding that Bono "drove this part of the discussion and likes the fact that there has been a consistent philosophy throughout its history."

A subtext to the story seems to be that Steve Forbes' continual dabbling in Republican politics is proving very expensive, and may have generated a need for cash. One hopes that Bono's group is not somehow funding yet another run at pulling the Republican party to the right.

No comments: