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.
Showing posts with label Geffen. Show all posts
Showing posts with label Geffen. Show all posts
Friday, December 15, 2006
Thursday, December 14, 2006
Geffen's offer for The Times: $2 billion
By James Rainey, Times Staff Writer
December 14, 2006
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.
Members of California's Chandler family prompted the auction this summer when they complained that the value of the company, in which they hold 20% of the stock, had been depressed by poor management.
The Chandlers are now trying to line up other investors for a joint bid on Tribune, according to an investment advisor familiar with the auction.
Geffen has told many friends and associates for more than a year that he would like to own the Los Angeles newspaper and improve the paper as a service to Los Angeles.The 63-year-old tycoon has also said that he has enough liquid assets to buy the paper alone and pay cash.
His net worth is estimated at $4.6 billion.
Continue reading the Los Angeles Times
.
.
December 14, 2006
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.
Members of California's Chandler family prompted the auction this summer when they complained that the value of the company, in which they hold 20% of the stock, had been depressed by poor management.
The Chandlers are now trying to line up other investors for a joint bid on Tribune, according to an investment advisor familiar with the auction.
Geffen has told many friends and associates for more than a year that he would like to own the Los Angeles newspaper and improve the paper as a service to Los Angeles.The 63-year-old tycoon has also said that he has enough liquid assets to buy the paper alone and pay cash.
His net worth is estimated at $4.6 billion.
Continue reading the Los Angeles Times
.
.
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