Geffen, Zell Talk Deal For LA Times

Geffen wants it; Zell has $13 billion in debt to pay down
By Caroline Miller,  Newser Staff
Posted Apr 5, 2007 3:13 PM CDT
David Geffen Donates $200 to UCLA Medical School    (Getty Images)
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(Newser) – David Geffen wants to get his hands on the LA Times, and he's optimistic that he may yet succeed after talking to Sam Zell, the feisty real estate mogul who bought the Tribune Company Monday. The two discussed both a spin-off and a joint venture partnership, sources close to the negotiations told the Post.

Zell apparently isn't as cozy with his other billionaire rivals, Ron Burkle and Eli Broad, who he told the Chicago Tribune were backstabbers, after they discussed a partnership with Zell, and then complained to the Tribune board that Zell got preferential treatment. Geffen offered $2 billion for the Times last fall, but was turned down.