FT.com / Media - Geffen sets sights on New York Times

Financial Times FT.com

Geffen sets sights on New York Times

By Matthew Garrahan in Los Angeles and Kenneth Li and Andrew Edgecliffe-Johnson in New York

Published: May 12 2009 00:33 | Last updated: May 12 2009 00:33

David Geffen, the former record executive who made an offer for the Los Angeles Times two years ago, now wants to buy the New York Times, according to people close to the situation.

Mr Geffen, a co-founder of DreamWorks SKG, made an offer in the past two months for the 19.8 per cent stake in the New York Times Company held by Harbinger Capital Partners, the activist US hedge fund controlled by Philip Falcone.