The Carlyle Group, one company that is the subject
of intense scrutiny in Michael Moore’s anti-Bush documentary "Fahrenheit
9/11" is one of three investment firms that now own movie theater chain
Loews Cineplex Entertainment.
Carlyle, which was founded in 1987, manages almost
$17 billion dollars worth of investments. Past directors include George Bush,
James Baker and Colin Powell, who’s son currently chairs the Federal Communications
Committee (FCC).
Osama bin Laden’s brother Shafig was also an
investor in the group, which is also one of the world’s largest private defense
contractors.
Coincidentally, their investment in the movie
business comes as Loews was one of the theater chains that resisted pressure
to not show Moore’s controversial award winning documentary.
More recently rappers like Paris have taken a
stance against the Bush’s and attempted to shine a spotlight on the activities
of The Carlyle Group.
"And with the 4th Amendment gone eyes are
on the 1st / That’s why I’m spittin’ cyanide each and every verse/I see the
Carlyle group and Harris Bank Accounts/ I see ’em plead the 5th each and every
session now" Paris rapped on his critically acclaimed album Sonic Jihad.
The Carlyle Group was one of three investors
in the $1.4 billion transaction. The buyout was led by Bain Capital, an investment
firm that was started in 1984 by Massachusetts Governor Mitt Romney. The third
investing company is Boston, Massachusetts based Spectrum Equity.
"Fahrenheit 9-11" details the Bush
families long standing relationship with Saudi Arabian royalty and the role
that relationship may have played in the 9-11 terror attacks in New York and
Washington, D.C.
Loews has 200 chains nationwide and a total of
2,200 screens.
The purchase adds to Carlyle’s diverse set of
investments and includes holdings in the medical technology field, the wireless
and telecom industries and others.
In April, along with Citigroup, Carlyle acquired
Seoul, South Korea’s KorAm Bank for a cool $2.6 billion dollars.
"Fahrenheit 9-11" is officially the
higest grossing documentary of all-time, in just one weekend at the box office.
Former president George H. W. Bush called Moore
a "slime ball" and claimed the documentary was "a vicious personal
attack on our son."
