Geffen said in talks for L.A. Times [View All]

[underpants]

Source: CNN Money

Sam Zell, tapped this week as winning bidder for Tribune Co., meeting with entertainment mogul about nation's No. 4 paper.

NEW YORK (CNNMoney.com) -- Chicago real estate mogul Sam Zell, tapped Monday as the buyer of media conglomerate Tribune Co., has already talked to entertainment mogul David Geffen about a possible deal for the Los Angeles Times, according to a published report.

The Washington Post reported the discussions. It quoted an unidentified source familiar with Geffen's thinking who said Geffen has spoken with Zell since Monday's announcement and is optimistic that he may gain control of the Times, either in a spinoff deal or a joint-venture partnership.

The Los Angeles paper has the fourth largest daily circulation at 1.2 million readers, according to the latest numbers from the Audit Bureau of Circulation. But like many newspapers, it is seeing declining paid readership and advertising revenue and announced a series of staff cuts in 2006.



Read more: http://money.cnn.com/2007/04/05/news/companies/times_geffen/