The Media Is Confusing @PrivateEquity And #Venture Capital — To #MittRomney’s Benefit @TPM @pemalevy

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Pema Levy

 Reporting from the New Hampshire primary, Fox News’s Carl Cameron observed that Bain Capital was “the venture capital company in which [Romney] both bought and grew companies and occasionally shut a few down.”

But Bain Capital is not, as Cameron said, a venture capital firm. He wasn’t the only reporter to mislabel Bain, either. When Newt Gingrich first ramped up attacks on Romney as a “corporate raider” at Bain, the news media covered the attacks by referring to the company alternately as a venture capital firm and a private equity firm. After a few days, private equity began to be used more often. However, looking over transcripts from Fox News, CNN, and MSNBC, TPM found that all three often continue to use the term “venture capital” to refer to Bain and Romney’s private sector experience.


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