Geffen Seeking To Buy New York Times Stake

Media mogul David Geffen, who had previously attempted unsuccessfully to buy the Los Angeles Times , has made an offer to buy a 19-percent stake in the New York Times from Harbinger Capital Partners, published reports said on Monday, citing unnamed sources. Harbinger originally acquired the stake for $500 million, but it has fallen 61 percent since then to $194 million, mirroring the decline of nearly all major newspapers, including the Los Angeles Times. In retrospect, most observers believe that it was fortunate for Geffen, the founder of Geffen Records and co-founder of DreamWorks Studios, that he was unable to land the Times. (He reportedly offered owner Sam Zell $2 billion for it two years ago, which Zell turned down.) The Times 's parent, the Tribune Corporation, is currently operating under bankruptcy protection.

12/05/2009


Contactmusic

Tags: Dreamworks


Advertisement

Editors Recommendations

Why ‘The House of Magic’ Is The Movie To Go See This Weekend

If you’re looking for a cinematic treat for all the family this weekend, then...

Why ‘The House of Magic’ Is The Movie To Go See This Weekend

Here Comes Guardians of The Galaxy, A Huge Weekend in Store?

‘Guardians of The Galaxy’ hits cinemas next weekend with Marvel...

Here Comes Guardians of The Galaxy, A Huge Weekend in Store?

Bastille - Flaws [Live]

Bastille perform their 2012 single 'Flaws' live at The Troubadour in London to an enthusiastic crowd. The...

Bastille - Flaws [Live] Video

Colbie Caillat - Try Single Review

Colbie Caillat isn't known for producing 'trendy' pop songs of any kind, but she certainly always maintains...

Colbie Caillat - Try Single Review

'The Purge: Anarchy' Launches Another Grisly Franchise

Last year's sleeper hit The Purge was an unusually intelligent thriller starring Ethan Hawke as...

'The Purge: Anarchy' Launches Another Grisly Franchise

Nightcrawler Trailer

Lou Bloom is a hard-working budding journalist whose deep obsession with his career has rendered him...

Nightcrawler Trailer
Advertisement

'Joe' Is A Reminder That Nicolas Cage is a Great Actor

There are all kinds of theories about Nicolas Cage's acting style, usually centred on whether...

'Joe' Is A Reminder That Nicolas Cage is a Great Actor

Blunt, Mirren or Winslet? Who Will Win Best Actress Oscar 2015?

The biggest night in the film award circuit is still seven months away. But...

Blunt, Mirren or Winslet? Who Will Win Best Actress Oscar 2015?

Legendary Rocker Tom Petty Returns With New Album 'Hypnotic Eyes'

American rock legend Tom Petty reunites with backing band The Heartbreakers...

Legendary Rocker Tom Petty Returns With New Album 'Hypnotic Eyes'


More recommendations

Advertisement

Comments

Dreamworks Newsletter

Subscribe to this news alert service to receive news and reviews on Dreamworks

Unsubscribe | Unsubscribe All