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Posts Tagged ‘Eli Broad’

Greenwald Venture Gets a Name: First Look Media

PMO Headshot Studio_Michele ClementIt doesn’t get much better these media days than a billionaire backer and a Honolulu dateline. NUY prof Jay Rosen posted today that the Glenn Grennwald-Pierre Omidyar (pictured) venture that he is now also a part of will be called First Look Media:

First Look Media is made up of several entities, including a company established to develop new media technology and a separate nonprofit journalism organization. The journalism operation, which will be incorporated as a 501(c)(3), will enjoy editorial independence, and any profits eventually earned by the technology company are committed to support First Look’s mission of independent journalism. The name of First Look Media’s initial digital publication is yet to be announced.

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Arianna Huffington Responds to Mayor’s LAT Suggestion

During a half-hour Wednesday sit-down with HuffPost Live Los Angeles co-host Jacob Soboroff, newly minted mayor elect Eric Garcetti at one point made a funny throwaway observation. Instead of Rupert, Charles/David or Eli, how about Arianna Huffington as the new owner of the LA Times, he mused.

FishbowlNY put in a request today to HP-HQ for Arianna’s reaction, but she {sniff} opted for the broader pulpit of Twitter:

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Former LA Times Staffer Would Welcome Koch Brothers Ownership

There’s the contrarian local view; and then, there’s the really contrarian local view. No other way really to frame former LA Times reporter Joe MathewsZócalo Public Square column arguing in favor of Koch brothers ownership. Mathews’ mother also worked for many years at the LA Times, at one point as an Asia correspondent.

The California editor’s jumping-off point is undeniable – his former employer has become “unthreatening and predictable.” And yes, the arrival of Charles and David Koch, for better or not-worse-than-closure, would change that:

If you doubt that that a polarizing owner can be good for California, let me urge you to visit a certain coastal castle in San Simeon. William Randolph Hearst, who I’m quite sure would endorse the idea of a Koch-owned LA Times, once wisely said, “Whatever begins to be tranquil is gobbled up by something not tranquil…”

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Eli Broad Confirms His Interest in LA Times

Austin Beutner was front and center in LA Weekly‘s recent look at potential LA Times bidders. Tonight, he is connected once again to billionaire Eli Broad and the non-profit vision previously outlined by Hillel Aron.

The big difference is that Broad is now making it official. From The Hollywood Reporter item by west coast business editor Paul Bond:

“Mr. Broad has always believed in local ownership of the Times and would be interested in joining with others to buy the paper,” Broad spokeswoman Karen Denne tells THR.

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Report: Ron Burkle Set to Acquire Variety

As has been previously noted, there is only one bidder for Variety who has the capacity to write a check without picking up the phone. Thus, Ron Burkle was always seen as a leading contender to acquire the trade publication if he so chose. Apparently, he has.

According to an LA Times report by Ben Fritz, Burkle is now the leading contender to acquire the trade:

Burkle’s Yucaipa Co. has been the most aggressive bidder and is most likely to emerge victorious from a sales process currently underway, according to two people close to the sale but not authorized to discuss the matter publicly.

Much like the notion of Eli Broad purchasing the paper Fritz writes for, if it does transpire this way, it really could not have turned out any better for Variety. Burkle has deep pockets, tons of business acumen and, most likely, a solid big-picture plan that could spell trouble for the trade’s direct competitors. The purchase price would allegedly be close to what has previously been reported: $40 million.

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Eli Broad Still Wants to Buy the LA Times

It’s almost too good to be true. On the same day that Magic Johnson and his Guggenheim partners took official media ownership of the Dodgers in Chavez Ravine, the bankrupt paper a few miles down the 110 freeway has hinted at the possibility of its own three-comma savior group.

In an advance excerpt from an interview conducted to promote Eli Broad’s new book The Art of Being Unreasonable: Lessons in Unconventional Thinking, the billionaire philanthropist indicated he still has his eye on the LA Times:

Broad said in an interview that he would like to “partner with others … maybe foundations or wealthy families” to take control of the newspaper [out of bankruptcy]. He said he has spoken to others about such an arrangement, but declined to name them.

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Los Angeles Downtown News Invites Readers to Reshuffle Power List

What’s the fun of a 2011 Power List if a reader can’t revamp it?

That seems to be the thinking of Los Angeles Downtown News executive editor Jon Regardie. After sharing his picks earlier this week for the 42 most powerful people in the corner of town that Tom Gilmore helped build, he is asking readers to chime in with their Top Ten remix. The best such lists will be shared in a future issue of the free weekly publication.

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Painting the Picture of LA’s Art Boom

Recession? What recession?

That’s the overwhelming impression to be gleaned from “The L.A. Art Boom”, Wall Street Journal reporter Lauren A. E. Schuker‘s examination of the ways three-comma movers and shakers are re-framing the west coast art scene.

From the hint of art dealer Larry Gagosian‘s Oscar party next spring at a home once owned by Gary Cooper, to staggering donation amounts, to the fact that consignments from Christies’ Los Angeles have tripled in the past year, Schuker compellingly captures the very (Eli) broad flavors of a movement decades in the making. She also sources a quote that is sure to have Woody Allen rethinking his east coast arrogance.
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Is the LA Times Going to Be Bought Again Soon?

6a00d8341c630a53ef00e5505bc9fc8833-800wi.jpgOne of our insiders at the LAT told us that he/she thinks the LAT is about to be sold again. “It’s been quiet. Too quiet.” So it’s lead the veteran newsperson to speculate that maybe is the calm before the…uhm…storm? Purchase? Bake sale?

Yeah, we haven’t heard much from Sam Zell in a while. Right? We haven’t heard anything from his profane bald head since the nitwit that endorsed “No Cussing Week” was up for re-election. We’re just saying.

Then today there’s a story on Reuters today about Eli Broad‘s interest in the LAT:

Real estate magnate Sam Zell took Tribune private in an $8.2 billion deal in 2007 that loaded up the company with billions in debt. The company filed for bankruptcy protection last year.

The L.A. Times is expected to eventually be put up for sale again.

Broad, jokingly, said: “I’ve regained my sanity since then,” referring to his earlier interest. But turning more serious, he added: “I would like to see our foundation and others join together to own the LA Times.”

We already like him more than Zell.

Via themediaisdying

Tom Christie Makes Fun of Offshore Typists in LA Weekly

datanet-3.jpg

Tom Christie at the LA Weekly interviews LACMA’s Michael Govan, and it’s all art, art, money, and art. The fun starts when the Weekly sends the interview tape to India for transcription (which is insane, as there are perfectly fine local services that are fast, accurate, and well-priced.) Christie writes:

The results were sometimes puzzling and often amusing. The strangely named figure Migetti was, of course, The Getty, while and four halls turned out to be Andy Warhol. Gentler pipe stood in for gentrified. And when Govan used the expression a pig in a poke, it was translated as the rather wonderful A Pagan of Poke.

But my favorite misspelling was for Eli Broad, who, as everyone knows, is no Eli Broke.

Of course, this would be considered racist or at least insensitive if the National Review ran such a piece.

Why isn’t Christie keeping jobs in Southern California?

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