Geffen Sought Stake in NY Times
Media mogul rebuffed after bid for 20% of company
By Jason Farago, Newser Staff
Posted May 12, 2009 3:43 AM CDT
The "New York Times" front page.   (©aprilzosia)

(Newser) – Media mogul and DreamWorks co-founder David Geffen recently offered to buy nearly 20% of the struggling New York Times Company, Fortune reports. Geffen offered market price, currently $194 million, for the shares owned by Harbinger Capital Management. But the hedge fund rejected his offer as too low. He hasn't been the paper's only suitor. Google also "looked seriously" at buying the Times Co. several months ago, but passed.

View 2 more images
More From Newser
My Take on This Story
To report an error on this story,
notify our editors.
You Might Like
Be the first to comment on this story.