LA Times: Sleepovers at David Geffen's
The other day, a prominent Los Angeles Times writer whom I very much respect confessed something rather startling to me: that he finds himself in the strange position of actively wishing for David Geffen to buy the newspaper. Perhaps more LAT staffers feel the same way, since the paper keeps dwelling on Geffen's interest in Spring Street in its pages.
Bad News for America....
The report said that some bidders think the Chandler family, the largest shareholder in Tribune after the purchase of Los Angeles' Times Mirror in 2000, would accept a per-share buyout bid in the mid-$30s.
Tribune Protecting Top Employees
Tribune senior vice president for corporate relations Ruthellyn Musil told the Los Angeles Times that these changes were “normal business practices for companies in our situation,’’ adding that no new benefits were added.
Tribune Acts Like Takeover Is in the Works
As leveraged buyout powers circle wounded Tribune Co., the media giant said it had changed its retirement and bonus plans to give certain employees payments if the company undergoes a change of control — a move typically made by firms before they get acquired.