See What Managing Laura "Stoned Soul Picnic" Nyro Can Get You...

While I often question whether to spend half my pocket change on the Los Angeles Times, David Geffen has today offered $2 billion, getting close (in billionaire terms) to half of his $4.6 billion fortune--in cash!--for it.

Of course, in his case it is ownership of the institution, not merely possession of a paper copy, at issue.

The Tribune Co. that owns the current institutional home of beloved and much-missed ex-Reasoners Matt Welch and Tim Cavanaugh has not jumped on the offer--they are still hoping to sell the entire company, not just the Times.

An old book review from me that surveys the roots of Geffen's stunning wealth in that crazy rock n' roll world where businessmen were waiting there to sell plasticware.

My account from the Wall St. Journal back in July 2002 of Geffen's fight for his right to keep the public from cutting across his yard to get to the ocean.

The lyrics to "Stoned Soul Picnic" by Laura Nyro, in managing whom the Geff made his first million. It's a lovely song--some pals and I played it live at my friend Patrick Pagano's wedding.

Comments

Jennifer | December 14, 2006, 6:20pm | #

they are still hoping to sell the entire company, not just the Times.

What else is there to the company besides the Times? Did you mean that Tribune is trying to sell all of Tribune?

Brian Doherty | December 14, 2006, 6:24pm | #

Jennifer---Yes, the company is trying to sell itself entire--read the linked article or for longer accounts what the LATimes and WSJ have written about it today...

highnumber | December 14, 2006, 6:25pm | #

Tribune Co is having a fire sale. The Cubs may end up on the block. I wonder if Gaius Marius is out there raising capital right now...

jf | December 14, 2006, 6:49pm | #

Brian,

I had never read that book review. I loved the way you expressed the disconnect of people who want to raise awareness without putting any of their filthy lucre on the line

While I hate to pretend that Springsteen is obligated to share his wealth with thousands of strangers, it does grate to hear someone who is fabulously successful from capitalism excoriate "the system's" flaws, without acknowledging that he has the resources to right--all by himself--the flaws he sees (families without enough money to buy new cars, the jobless) for thousands of people.

Also, my girlfriend told me she read the book and loved your review as well.

Jeff P | December 14, 2006, 8:25pm | #

I'm a Trib employee, and we're awaiting word of our company's fate. Hopefully in January.

We're trying to put together a Tribune Movie festival, featuring only movies about Trib employees: Chicago Tribune reporters, Cubs players, etc. Suggestions are welcome.

It should also be noted that many Trib TV stations, not just WPIX, will be showing the Yule Log this year. We'll be taking the feed ahead of time via satellite. We get a kick out of the fact that the feed is two hours long, with a reel change.

jf | December 14, 2006, 8:49pm | #

Jeff P,

If I lived in Connecticut, I'd love to see "Boys of Zimmer: The Story of the Chicago Cubs".

joe | December 14, 2006, 9:04pm | #

I can't believe the NYT got that tool Tierney has their house libertoid, and the LAT got Cavanaugh AND Welch.

The New York Times: the Houston Texans of journalism.

Sammy Franklin | December 15, 2006, 9:22am | #

Media deconsolidation. Me likee. I think it will make Matt sad, tho.

ed | December 15, 2006, 9:22am | #

WPIX will be showing the Yule Log

I miss the Yule Log. Mesmerizing. Quaint. Silly. Traditional. Frikkin' odd.

Sammy Franklin | December 15, 2006, 9:25am | #

I miss the Yule Log. Mesmerizing. Quaint. Silly. Traditional. Frikkin' odd.

WPIX (now called CW11) has some of its Yule log footage up on the Net. I had it going full screen on my 20 inch monitor the other nite while we set up the Christmas tree.

and you get to see a Jim belushi ad where he seems kind of embarrassed.

ed | December 15, 2006, 10:30am | #

I will investigate.
For a bit more WPIX nostalgia, click my name.

Barstow Freak | December 15, 2006, 11:39am | #

Geffen wants the LAT so he can stop it from printing articles about his blatantly illegal habit of restricting access to the beach.

Can't have the hoi polloi ruining the view.

Jeff P | December 15, 2006, 11:51am | #

There will also be a documentary about the history of the yule log this year.

The Yule Log originally consisted of 18 inches of 16mm film that ran in a loop.

ed | December 15, 2006, 12:23pm | #

I wondered why it never got any smaller.

kevrob | December 15, 2006, 8:10pm | #

I used to tell my little brother that the Yule Log was kindled by puppets that had gotten on the wrong side of Chuck McCann. :)

Hey, why don't some Evil pro-free market Capitalists make a bid for Mother Tribune? Worked for Rupert, right?

Kevin