David Geffen Is A Bird-in-the Hand for Tribune's Los Angeles Times
The problem is, no one has yet ponied up and offered the Tribune Company anything for its fist full of media properties. Mr. Geffen's offer may be a bird-in-the-hand that Tribune should be considering.
A BILLION $HORT
Media mogul David Geffen's $2 billion bid for the Los Angeles Times is about $1 billion short of what big shareholders of parent Tribune Co. want for the storied newspaper, sources close to the company said.
Chandler Family to David Geffen: $2 Billion aint enough
Tribune shareholders, including the influential Chandler family, believe the value of the L.A. Times is closer to $3 billion and have said any sale of the paper would have to be done as a tax-free transaction, sources said.
'Newsday' Editorial Staff Also Wants World Peace, A Pony
Today, the staff sent a letter - signed by 112 reporters, editors, researchers, photographers, artists, designers, librarians and copy editors - to Tribune Co. Chief Executive Dennis FitzSimons. The signers said that Newsday continues to post enviable profit margins, above 20 percent, and boasts a strong core of loyal readers who are looking for a "complete" newspaper that covers local schools, national politics and world events in a comprehensive manner.
Tribune: Six degrees of trepidation
Why the sudden flurry of stories? Apparently Tribune’s corporate review hasn’t gone so well. What’s most interesting, however, is the different information in every story. While the facts are the same, the details vary. The company has stayed largely quiet on the matter.