11 Apr 08 Sam Zell might sell LA Times to Geffen
According to LA Observed:
Just passing along what I was told this morning from a possibly good source — no confirmation, no independent reporting, no warranty implied. But my contact travels in the right circles to have picked up the scent and reports hearing from “three excellent sources (all with first hand information)” that David Geffen is in talks with Sam Zell to buy the Los Angeles Times from Tribune. The talks are serious enough, my source hears, that the moguls may have been close to a deal last week. For what it’s worth.
Hmm, with this and the feds not standing in the way of selling Newsday to Rupert Murdoch, Zell may be able to get rid of some of that debt he had to assume in acquiring Tribune. Selling your two hottest properties, however, doesn’t seem like the best way to go. What do I know though, I’m still in the pupal stages of being a journalist.
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