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Thursday, June 29, 2006

David Geffen/LA Times Update

LA Weekly
By ">Nikki Finke
06-29-06

Then, yesterday’s Wall Street Journal wrote that the Chandler family, which owns its Tribune shares through trusts and is at loggerheads with FitzSimons and will become the company’s largest shareholder in the wake of Tribune’s not-very-popular $2 billion stock buyback scheme, is preparing to meet with Geffen and other potential buyers like Ron Burkle and Eli Broad, as well as private-equity and other investors. It’s all an attempt by the family that once ruled the Spring Street roost to create some drama and force a breakup or sale of all or part of Tribune Co.

1 comment:

Anonymous said...

Just what do the Chandler's want?
They didn't want the LA Times when it was at a high level of excellence and also circulation.
I think it has to be asked. What is their vision for the LA Times Newspaper? What would be the vision of businessmen such as Broad, Geffen and Burkle? Would there be more glitz, less international, more tie-ins with real estate deals, and Hollywood?

If it is sold, then it will be different, but not necessarily better.