In the wake of this weekend’s highly shared New York Times piece about the Koch brothers’ interest in Tribune Co. newspapers, Forbes blogger Jeff Bercovici handicaps the overall billionaire odds. Because the Kochs have an alleged interest in the entire Tribune Co. print slate, he places them at the top of the list as an even-money bet.

Less convincing is Bercovici’s stubborn inclusion of David Geffen at 20:1. It seems pretty clear that the one-time suitor has lost all interest in the LA Times, but let the record show that if Geffen does indeed reveal he was putting forth a poker face, Bercovici wasn’t fooled.

At the bottom of Bercovici’s list is Warren Buffett:

Odds he’ll get it: 50:1. The Times just doesn’t fit the profile at all of the type of newspaper Buffett’s been buying. He’s looking to roll up papers in small, semi-isolated cities and towns that have a quasi-monopoly on local news. It would be shocking if he didn’t sit this one out.

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Interesting tidbit from LA Times DC reporter Jim Puzzanghera.

Barring an unforeseen and very unlikely objection from one or more of the Federal Communications Commission’s five commissioners, some very critical regional media market waivers will be granted by the FCC on Friday. The waivers reaffirm the Tribune Company’s right to own radio, TV and newspaper outlets in the same market:

The FCC has told commissioners it plans to grant Tribune’s new owners a permanent waiver for the company’s longtime ownership of the Chicago Tribune newspaper and WGN radio and television stations in the Chicago market.

The staff also plans to give one-year waivers for the Tribune’s ownership of the Los Angeles Times and KTLA-TV Channel 5 and for similar arrangements in New York, southern Florida and Hartford, Conn.

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After more than three years, U.S. Bankruptcy judge Kevin Carey has officially signed off on a plan for Tribune Company to emerge from bankruptcy. According to the Chicago Tribune, the media company will soon be in the hands of a conglomerate of senior investors, led by the LA-based investment fund Oaktree Capital Management.

Looks like we won’t have old Sam Zell to pick on anymore…Or won’t we? Apparently, the Tribune Co. legal fireworks aren’t over yet.

From the Chicago Tribune:

Junior creditors led by New York investment fund Aurelius Capital Management have said they plan to appeal the decision issued in Delaware by U.S. Bankruptcy Judge Kevin Carey. But few experts expect appeals to gain traction because of the careful way Carey fashioned his confirmation opinion.

Instead, junior creditors will likely shift their attention a federal district court in New York where they are suing 35,000 former Tribune Co. shareholders who cashed out in the company’s 2007 leveraged buyout, certain current and former Tribune Co. directors and officers as well as Sam Zell, the deal’s architect. The litigation could keep the controversy surrounding the litigation alive in the courts for years.

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Forget about last week’s ranking by Forbes of the world’s 100 Most Powerful Women. In a town overrun with male braggadocio, the Bald 100 honor roll shared this week by GQ is going to undoubtedly be a far greater topic of conversation.

Perhaps Vin Diesel can bank on the idea that he is the top west coast industry rep on the list at #5 to spark a fresh round of meetings. Better yet, the lanky actor should have his people call Ron Howard‘s people to share a laugh over the fact that the director sits at #6. Meanwhile, it’s too bad Larry David isn’t currently in production on Curb Your Enthusiasm; he clocks in at #10, a few slides behind Samuel L. Jackson (#7), as the fourth and final member of L.A.’s gleaming chrome dome quartet.

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Personally, we thought the song was about us. But according to The Sun, Carly Simon‘s 38 year secret about who was the object of her classic ballad “You’re So Vain” is finally out. Some believe it’s her producer David Geffen.

She tipped the world off by saying his name backwards on a re-recording of the song for her upcoming ablum. She say’s “David” backwards? Only the most popular name in North America. So…yeah, mystery solved.

Former DreamWorks partner David Geffen has found a not unexpected approach to maintaining his legacy after leaving the company — he filled his seat on the DreamWorks Animation board of directors with the CEO of his own David Geffen Co., Variety reported.

That’s the way to stay in the mix, Dave.

DreamWorks partner and resident billionaire David Geffen has decided to bow out of DreamWorks 2.0, the new DreamWorks production arm financed by Indian money through Reliance Inc., according to the New York Times.

The Times says that co-partner Steven Spielberg “actually stammered a bit in trying to explain his erstwhile business partner’s departure.”

No, Spielberg said, he didn’t really know why but yes, he hopes he and Geffen will remain close.

“I cannot imagine not having David in my professional life,” Spielberg said. “If that’s true, I’m going to have to figure out what to do about it.”

The NYT calls Geffen’s orchestrating of the creation of the new DreamWorks – with backing from Reliance Big Media – a “deal maker’s master stroke.” But now, after nearly 40 years of engineering some of the most breathtaking deals and transitions he is backing away from Hollywood altogether.

That’s not entirely new news. When the finalization of the separation between Paramount and DreamWorks came to light early this month, it was noted that Geffen would be retiring from the film business.

And, how the decision to withdraw from Hollywood came about, and what it means to an industry that has long regarded Geffen as its most powerful figure, is far from clear. The Times says Geffen declined requests to be interviewed for the article.

Geffen’s only major remaining Hollywood presence is his position at DreamWorks Animation – he’s still on the board – but people familiar with his plans said he would resign soon, says the NYT.

“This closes a chapter,” Jeffrey Katzenberg said of Geffen’s decision not to join the new Spielberg company.

His departure appears to have orphaned a small corps of associates who had come to view him as the central support for their own hopes and dreams, says the NYT.

In describing Geffen’s role at DreamWorks, Spielberg likened it to a family relationship. “Jeffrey and I were like the kids,” he said, while Geffen built the house and saw that the bills were paid.

Though no declarations have been made, an inside source at DreamWorks tells FBLA that the company is likely to stay put with Universal for its distribution deal.

“We’re actually on the Universal lot in the old Amblin studio space,” the source said. “It’s just easier to maintain with Universal. Paramount will still have its cut on a number of DreamWorks projects, but though nothing is set in stone, it looks like it will probably be Universal.”

DreamWorks recently severed itself from the Paramount deal that had been cut by David Geffen, Steven Spielberg and Stacey Snider. Take Geffen out of that mix and you have the remaining two principals still involved with DreamWorks: Spielberg and Snider.

That pair negotiated and was awarded a $500 million deal with India’s Reliance to bankroll six to eight films a year.

Those films will not be out-and-out blockbusters, but rather limited-budget pieces that can turn a profit, the source said. The example that is always given is: Sam Mendez’s “American Beauty,” which not only came in on a low, low budget, but won its share of awards and attention.

DreamWorks publicity reps were expectedly close-mouthed about distribution for the studio.

Stay tuned. More to come in the next week.

Celebrity Splits: Claudia Eller likens the breakup of DreamWorks SKG and Viacom Inc.‘s Paramount Pictures to a divorce, saying “the only issue now is who gets custody of the children. Like custody battles anywhere, this one could get nasty.” At stake, hundreds of movie projects and employees who work for DreamWorks.

Hollywood Going Bollywood? Indian movie mogul Anil Ambani is “in talks to help finance a move by DreamWorks SKG, the studio founded by Steven Spielberg, David Geffen and Jeffrey Katzenberg, to become an independent company again.”

Patt Morrison Throwing Signs? Patt Morrison compares her book club to a troubled youth book club and learns that all book clubs are kinda gang-like. At least, that was our read.

Favorite LAT paragraph of the Day: In a story about 75 students arrested in a San Diego State University undercover drug bust: “One alleged dealer was just a month away from receiving a master’s degree in homeland security and had worked with the campus police as a security officer, officials said. Another student, who was arrested on suspicion of possession of cocaine and two guns, was a criminal justice major, officials said.”

Dreamy-Works? We’re not entirely certain, but we think Patrick Goldstein just likened David Geffen to a thoroughbred.

Is Britney-Mania Dying Down? The AP reports the scene surrounding Britney Spears’ courthouse arrival this morning as surprisingly subdued and sparsely attended.