Geffen said in talks for L.A. Times

[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/

[AX10]

1. I hope he succeeds.

[David Zephyr]

2. I'm not religious, but I'm on my knees for this one to happen.

Help, oh mighty one.

[Codeine]

3. I wonder

if the Times will be allowed to report on RichBoy's continuing efforts to prevent access to the beach near his mansion.

[JuniperLea]

4. Notice how they effectively shut out Eli Broad

Broad made a bigger offer and Zell won anyway. I'm betting it's because Broad is a Democrat and a big Democrat supporter (put his name in opensecrets), one of the few wonderfully Democratic billionaires in the world... a self-made man with a solid sense of what's right and wrong.

I hope he reemerges and goes for this! He would be perfect for running the LA Times! He grew two very successful businesses from virtually nothing! I have a great deal of respect for him as a businessman and as a person.