LA Times bringing out the deep pockets

The LA Times is a hot grab among deep pocketed individuals looking to remain and/or become relevant via a big media buy. One billionaire deep in the mix is David Geffen who has been feeling out some folks who may end up working for him. David Geffen spends more time schmoozing with an elite cadre of journalists than just about any other mogul in Hollywood. The billionaire often invites them to his sprawling estate in the heart of Beverly Hills, where De Koonings and Pollocks hang on the walls. In September, his guest was Leo Wolinsky, a managing editor of The Los Angeles Times, and they broached the delicate question of whether Mr. Geffen might try to buy the struggling newspaper. If Mr. Geffen gets his way, he will be spending a lot more time with journalists. If David Geffen gets his way he will be spending a lot of money Billionaires Fight to Buy The Los Angeles Times [NYT]