Former General David Petraeus Central European Media Mogul?

ojim  | All his life, Petraeus has built up his career by courting those highest in power. His passage from the summits of military and intelligence fields to the ranks of financiers is typically seen as one of retirement or resignation. We are inclined to see it as a promotion.

The career of David Howell Petraeus follows the same ascending line and the same red thread: the manipulation of perceptions. His case illustrates a radical change in the world of media. Before him, no one could have imagined a former chief of intelligence at the head of the media, especially not in a country he had helped to destroy. An enemy general, head of the secret service, and a propaganda specialist, he has imposed himself on the media of a bombed nation, under the pretext of bringing objective information to it – a real tour de force. But nothing shocks hearts and minds already conquered.

In the 1970s and 1980s, KKR was the pioneer of LBO, or the “leveraged buyout” – leverage here signifying massive debt. The architect of this concept, Jerome Kohlberg, soon worried by the “overpowering greed that pervades our business life,” would leave the fund he had created, leaving only his K at the head of the acronym. Following his departure, it was the second K, Henry Kravis, who would lead these LBOs to skyrocket, thus earning KKR the unflattering nickname of the “Barbarians of Wall Street” (the best-seller and film “Barbarians at the Gate” are dedicated to their historical LBO on RJR Nabisco). They would remain the champions of this method, despite the practice often resulting in the dismemberment or even bankruptcy of the companies bought, as was the case with their other historical LBO: Energy Future Holdings. The same method is now practiced by Patrick Drahi, who built his media empire on colossal debt.

At the end of 2016, Donald Trump was considering Petraeus for head of US diplomacy, but he would remain with KKR, henceforth as a partner. Kravis and Petraeus are also members of the Council on Foreign Relations and regular participants in Bilderberg meetings. Kravis was ranked 38th on the list of the richest Jews by the Jerusalem Post.

The “financial barbarians” spearheaded by Petraeus have erected a true media empire, but they have done so very discreetly, shying away from public scrutiny. Rare, reluctant, and belated investigations have, however, eventually revealed some details.

In 2015, a “Report on Ownership Structure and Control over Media in Serbia” by the Serbian Anti-Corruption Council identified the lack of transparency of media ownership as its priority issue. The following year, the ownership structure of United Group was investigated by the Slovenian newspaper Delo in cooperation with the Organized Crime and Corruption Reporting Project (OCCRP). Their article “On the Dark Side of Telemach” finally allowed the people of the region a behind-the-scenes look at their prime source of information. What they found in their probe was a labyrinth of ghost offshore companies, mushrooming in tax havens in order to hide the original owners and their financial networks.