Geffen's 'still interested' in NYT
Since former NY Times media reporter Richard Siklos broke the news in Fortune last Monday that David Geffen had talked to Harbinger about buying their 19 percent stake in the Times, the paper itself has largely sat out of the juicy media story.
But today, Times reporters on both coasts write that Geffen's still interested in buying a chunk of the paper, "according to people who are very familiar with his thinking." The headline: "Geffen Is Seen as Still Eager for Times Stake ."
Just because Geffen's now sitting on the sidelines, they report, doesn't mean he's not interested in the Times -- that's "according to these people, who spoke on condition of anonymity so as not to alienate either Mr. Geffen or the Sulzbergers." Understandable. Who wants alienate such powerful men?
Of course, Geffen's still not talking. Neither is Arthur Sulzberger Jr.
So the Times incrementally advances this story with anonymous "friends" or "people close to Geffen" who offer positive quotes about how the media mogul's "favorite people are political journalists" who he'd "rather spend time with them than with Hollywood celebrities.” Geffen's "friends" also say he has a "genuine fascination" with the newspaper industry's plight.
Similar to previous pieces, anonymous sources confirm that Geffen's motivation is to preserve a great journalistic institution, perhaps in the form of a non-profit, rather to seek financial or personal gain. In light of the Times piece, it's worth taking a look back at the week where people who know a lot about what David Geffen thinks told us what he thinks.
"What David Geffen Sees In The New York Times" (BusinessWeek 5/13)
BusinessWeek ponders what Geffen could want with the Times, while confirming with "a source close to the matter" that Geffen did reach out to Harbinger.
"All the News That's Fit to Buy: Inside David Geffen's play for The New York Times." (Newsweek 5/13)
Johnnie Roberts writes that "according to two people familiar with Geffen's thinking," the media mogul isn't out for financial gain, but just wants to turn the Times into a non-profit and preserve its journalistic mission.
"Geffen's free ride" (LABizObserved, 5/14)
Mark Lacter throws water on the whole thing by writing that Geffen's manipulating the press behind-the-scenes. Nevertheless, the sources don't go away.
"Times 'Talks" All Guff: Geffen" (NY Post, 5/15)
The Post reports -- "according to three sources with direct knowledge of the situation" -- that the "talks" involving Geffen buying a stake in the Times "are a myth." There was only a five-minute phone call.
It'll be nice to one day hear what Geffen thinks, rather than just those anonymous folks who tell reporters what he thinks. |
