David Geffen wants to own the New York Times because, well, because it would be cool to own the New York Times. But it’s not for sale yet. So he has a plan.
Wait until the Sulzbergers realise how far up the creek they are.
Richard Perez Pena, New York Times: Despite falling short in two recent attempts to become a major player in The New York Times Company, David Geffen continues to be seriously interested in buying a sizable piece of the company or taking it over completely, according to people who are very familiar with his thinking, though he is wary of doing anything to antagonize the controlling Sulzberger family.
Mr. Geffen’s plan is to wait in the wings rather than making a fresh offer, thinking that the family may eventually seek a buyer if the company’s fortunes deteriorate further, according to these people, who spoke on condition of anonymity so as not to alienate either Mr. Geffen or the Sulzbergers.