The "G" in Dreamworks SKG is making an all out bid for the Los Angeles Times. Taking a good chunk of his $4.6 billion fortune, David Geffen has pitched the Tribune Co.-owned paper with a $2 billion all-cash buyout bid. But the media conglom has said no, at least for now, as it awaits suitors for the entire company.
Several observers said the paucity of interest in Tribune had increased the chance that the company would be forced to consider selling individual assets, which include the Los Angeles newspaper, KTLA-TV Channel 5, the Chicago Tribune, the Chicago Cubs and 22 other television stations.
And if these deal falls through, for a cool $4 million Geffen could likely pick up Jason Binn's Los Angeles Confidential — which, let's be honest here, carries about the same social cachet as the LAT.
Editorial Director
$2 BILLION!
Forbes says he's worth somewhere in the neighborhood of 4.4 billion. A WSJ profile on him earlier this week said that he'd spent over $20 million on the LANDSCAPING for his Beverly Hills mansion. What the hell did he do? Buy MEXICO to come landscape his lawn? 20 Million on Landscaping???? Damn!