Mogul said to have sought NYT stake
China Daily | Updated: 2009-05-13 08:04
LOS ANGELES/NEW YORK: Media mogul David Geffen tried to buy a stake in the New York Times Co from hedge fund Harbinger Capital Partners, but was rejected, a source with knowledge of the matter said.
Geffen offered to buy the stake at market price, but Harbinger fund manager Philip Falcone wanted him to pay a premium, according to the source.
The two sides are not currently in talks, said the source, who spoke on condition of anonymity.
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