David Geffen Wants To Buy The NYT

Openly gay movie mogul David Geffen is angling to buy the New York Times, which is sure to inspire even more wingnut cries about the gay mafia running the nation's MSM.

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. His offer was rebuffed, two people familiar with its details said. One of these said the offer was made at the prevailing market price but Harbinger wanted a premium, adding that Mr Geffen remained interested in owning the company and would be "a patient buyer". Harbinger, Mr Geffen and the Times declined to comment, but Mr Geffen's interest, first reported by Fortune.com, could complicate the future control of America's most prestigious newspaper company.

Google has also been in talks to acquire a controlling interest in the paper.