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Tagged: Phil Falcone

Roundup: Media & Entertainment

• Oprah got all teary today when she announced she'll end her talk show two years from now. Meanwhile her upstart cable network announced it'll launch in January 2011, eight months before her talk show goes off the air. [EW, THR]
• Oprah isn't the only one planning her goodbyes. Bill Moyers announced today that he's retiring and will wrap up his weekly PBS show in April 2010. [NYT]
• Former NY1 anchor Dominic Carter was found guilty of misdemeanor attempted assault today for roughing up his wife last year. [NYDN]
• Last night's season finale of Project Runway was the highest-rated episode of the season; meanwhile, winner Irina Shabayeva describes what's next for her.
• The new Twilight sequel, New Moon, isn't just causing excitable teens to pass out in droves. It's also on track to break a few box office records. [AFP, AP]
• More on the bloodshed at BusinessWeek the past few days. [FBNY]
Tina Brown has herself a new right-hand man at The Daily Beast. [NYP]
• Yet another book by reality TV star Lauren Conrad is on the way. [NYDN]
Phil Falcone's Harbinger has cut his stake in the Times once again. [Reuters]
• The scariest news ever: Lou Dobbs has left open the possibility that he'll make a run for the White House in 2012. And he wasn't kidding. [Reuters]

Media Roundup

Letterman's Ratings, Rather's Suit & The Post Parody

• Barack Obama's appearance on David Letterman's show last night helped the Late Night host score his second-highest ratings ever. [NYT, WP]
Dan Rather scored a couple of victories in his suit against CBS: A motion by the network to dismiss the case was denied by a judge; and Rather's lawyers will be permitted to question Viacom chairman Sumner Redstone. [Reuters]
• Yesterday, activists handing out fake copies of the Post outside its offices were detained by cops. Today, the paper says it was "flattered" by it. [NYP]
• Book deals: Jenny Sanford, the estranged wife of South Carolina Gov. Mark Sanford, is writing "inspirational memoir" for Random House. And Andrew Young, an aide to former Senator John Edwards, has landed a deal with St. Martin's Press' Thomas Dunne Books to publish his tell-all memoir.
• In an effort to keep more viewers tuned in, ABC plans to reduce—yes, reduce—the number of commercials in the premieres of its new shows. [LAT]
• Fox won the opening night of the fall season, a first for the network. [THR]More

Moguls of Yesteryear

The Final Nail in Bob Guccione's Coffin

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Bob Guccione once lived like a king. The founder of Penthouse magazine, Guccione was once enormously wealthy (he made the Forbes 400 list in the early '80s), and he resided in a massively ornate townhouse off Fifth Avenue decorated with neo-Classical female busts, Byzantine style fountains, and carved marble commodes (above). Then he got a little too ambitious and tried to expand his empire by building a nuclear power plant (no joke) and a casino (slightly more plausible, but no more successful), and by the early '00s—just as the Internet was making his flagship magazine increasingly irrelevant—Guccione's business went bust.

More

One Year Older

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Happy Birthday | It's a big day for Vanity Fair editor Graydon Carter: He celebrates his 60th birthday today! (Gifts, flowers, and cards can be directed to 4 Times Square, 22nd floor.) Others marking off another year today: hedge fund manager Phil Falcone (and the husband of Lisa Maria) is turning 47. Music impresario Tommy Mottola is 60. Movie mega-producer Scott Rudin is turning 51. Fellow film mogul Joel Silver is 57. Howard Lutnick, the CEO of Cantor Fitzgerald, is turning 48. Upper East Side plastic surgeon Sherrell Aston is 67. Actor Matthew Fox is turning 43. Tech luminary Esther Dyson is 58. Hudson News chief Jimmy Cohen is 51. Legal powerhouse Barry Ostrager is turning 62. Actor Harry Dean Stanton is 83. Interior designer Benjamin Noriega-Ortiz turns 53. Artist Lee Friedlander is 75. And actor Vincent "Big Pussy" Pastore celebrates his 63rd birthday today.

Billionaires

When Hedge Funders Win, We All Win

142947You may still be dealing with the nasty effects of the economic downturn, but the pain and misery appears to be over for the hedge funders who were forced to momentarily put off plans to buy a new jet or private Caribbean island earlier this year. The Post reports the first six months of 2009 were very good for the likes of Steve Cohen, Paul Tudor Jones, Phil Falcone, and John Paulson as "hedge funds overall turned in their best performance in a decade, with funds up 12 percent through the end of June." Before you immediately brush this off as just another example of the rich getting richer while the less fortunate continue to struggle, consider four reasons why it's actually great news that Phil Falcone may end the year with a net worth north of $3 billion:More

Socialites

Lisa Maria Falcone Steps Into the Spotlight

142486It hasn't been a fun ride for hedge fund manager Phil Falcone since he picked up 20 percent of the New York Times Co. a couple of years ago. He had to face off against the ruling Sulzberger clan for representation on the board of directors and the company's plunging stock price means his investment in the paper is now worth a few hundred million less than it once was. Today, however, he gets his money worth with a Times profile of his beloved bride, Lisa Maria Falcone, who, as the title of the piece informs us, is a "philanthropist with a sense of timing." Indeed!More

Video

Lisa Maria Falcone: The Lost Interview

142071The High Line celebrated its grand debut with a splashy, Calvin Klein-sponsored party on Monday night. Naturally, Lisa Falcone and her husband, Phil Falcone, were in attendance: The hedge fund founder made a $10 million donation to the elevated park a week or so before it was unveiled to the public. Lisa took a few minutes to address the crowd at Monday night's party, and her speech came off as a bit loopy, according to people who were there.More

Hedge Funders

Phil Falcone Always Gets His Money's Worth

141634Hedge fund mogul Phil Falcone hasn't had the easiest stretch as of late. The $500 million he plunked down for a 19 percent stake in the New York Times? The value of his shares have plummeted by nearly two-thirds over the past few months as the paper has struggled to remain solvent. And his recent efforts to dominate the charity circuit haven't worked out as well as he might have liked either. Last week, in what was either a very bold act of generosity or an effort to steal the limelight, Falcone and his wife Lisa announced plans to donate $10 million to the High Line, just days before the railway-turned-park was officially unveiled to the public. Unfortunately for Phil, his sizeable check still didn't entitle him to a front-row spot at the yesterday's official ribbon-cutting ceremony. So Phil did what he had to do to insure his pair of scissors was put to use (and his $10 million didn't go to waste). Evidence of Phil's brash power move below.More

Urban Renewal

A Sneak Peek at the High Line

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The High Line, the elevated railway turned public promenade, opened last night to a select group of donors and supporters. Before the gala kicked off, Diane von Furstenberg and Barry Diller issued a challenge grant, promising to donate $10 million to the walkway if someone else came along and matched it. Hedge fund mogul Phil Falcone and his wife Lisa delivered, and while it's still unclear when the public park will actually be public—rumor has it that it may just be a matter of days now—in the meantime, venture capitalist Fred Wilson was good enough to bring a camera along to last night's event so we can all get a little peek at what's in store.

$10 Million Gift for High Line Project [NYT]
The High Line Set [Flickr via Curbed]

Socialites

The Real Housewife and the Gray Lady

Reports surfaced recently that media mogul David Geffen had expressed an interest in buying a piece of the New York Times. As the story goes, Geffen had offered to buy Harbinger Capital Partners' 20 percent stake in the paper; but Harbinger, the hedge fund operated by Phil Falcone, had rejected the overture because it had been hoping for a higher price. Much was made of Geffen's attempt to snag a piece of the esteemed paper, what his true intentions were, and whether the DreamWorks co-founder had been hoping to shape the paper's coverage of Washington and Hollywood. It doesn't matter much now, since the deal doesn't appear to be moving ahead. In the meantime, though, let's all be thankful that Falcone's wife, Lisa, hasn't been making any efforts to influence the Times's fashion coverage. Click on the photo above to see Lisa at the NYCB spring gala the other night in all her glittery glory.

The Circuit

The Thursday Party Report

140270The Society of Memorial Sloan-Kettering Cancer Center hosted its second annual Spring Ball at the Plaza on Tuesday night. More than 350 people turned out for the NBC Universal-sponsored event, including NBC Universal president Jeff Zucker and his wife Caryn (left), Mort Zuckerman, Robert De Niro and Grace Hightower, Julia and David Koch, Tory Burch and Lyor Cohen, Hilary Geary and Wilbur Ross, Jonathan and Somers White Farkas, Shoshanna Lonstein Gruss, Peter and Jamee Gregory, Ginny and Tiki Barber, Sherman and Chris Meloni, Frank and Kathie Lee Gifford, Hoda Kotb, Peggy Siegal, Natalie Morales, Valesca Guerrand Hermes, Jennifer Creel, Renee Rockefeller, Alexandra Lebenthal and Jay Diamond, Danielle Ganek, Kimberly Kravis, Muffie Potter Aston, Hilary Gumbel, Dr. Harold Varmus, Dennis Basso, Heather Mnuchin, Anne Grauso, Sylvester and Gillian Miniter, Gigi Mortimer, Sara Ayres, Shafi Roepers, Leslie Jones, and LL Cool J. [PMc, Wireimage, NYSD]More

Media

Newsday, The Times & The Gloomiest Cannes Ever

Jim Dolan's Cablevision says that Newsday is not for sale, which is good since there isn't a company on the planet that wants to buy it. [E&P]
• David Geffen made an offer to acquire the stake in the New York Times Co. controlled by Phil Falcone's Harbinger fund; Harbinger passed. [Fortune]
• The mood isn't too upbeat at the Cannes Film Festival, unsurprisingly. [THR]
60 Minutes' segment on Anna Wintour should air this Sunday. [Gawker]
• As of the publishing biz didn't have enough to worry about, "web pirates" are now posting copies of books on the Internet. [NYT]
Anderson Cooper's ratings have been on the decline all year. [LAT]
OK! appears to be dissolving into chaos. [ASSME, Gawker] More

Hedge Funders

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Phil Falcone Will Not Be Taken For a Ride | Last week, Phil Falcone, the billionaire hedge fund mogul best known for picking up the Guccione mansion in 2007 for $49 million, was slapped with a lawsuit by a former employee at his firm. Howard Kagan, who joined Falcone's Harbinger Capital Partners in 2003, claims he was stiffed out of $62 million bonus for the work he did in 2008. How, exactly, did Kagan come up with such a huge sum given Falcone's fund lost, like, billions last year, much like every other hedge fund in town? That's unclear, although it's beginning to look like the suit was part of an attempt to force Falcone into coughing up the cash rather than face the prospect of bad press. Sure, that tactic might work with some nerdy hedge fund manager who enjoys spending quiet nights at home with his HP-12C calculator. But you don't pull that kind of stunt on a ballsy guy like Falcone and live to tell. Did we mention that the dude lives in a former orgy palace and keeps a pet pig in one of his 367 spare bedrooms? [Dealbreaker]

Roundup

Wall Street: Thursday Morning

• It looks like Chrysler will file for Chapter 11 bankruptcy protection today after last-minute negotiations with creditors failed to result in a deal. [BN]
• Good news: fewer Americans filed first-time applications for unemployment insurance last week. Bad news: personal spending is down. [BN, WSJ]
• UBS has eliminated 2,000 U.S. jobs as part of a round of job cuts. [DB]
• Hedge funder Phil Falcone has been sued by his former right-hand. [NYP]
• State Street Corp. is now under investigation by state regulators. [WSJ]
• Financier Danny Pang has been given $1 million bail. He'll be under house arrest, though, so presumably he won't be heading off to China. [DB]
• Changing AIG's name to AIU has done little to redeem the company's rep or distract from its previous failings, you'll be shocked to hear, we're sure. [NYT]

Media

The End of Portfolio, Newspaper Circulation Falls

• More on the decision by Condé Nast to shut down Portfolio. [NYO, Gawker]
• Newspaper circulation figures for the past six months show steep declines at most major papers, including the Times, Post, and Daily News. One bright spot: the Wall Street Journal, which experienced a tiny, 0.6% gain. [E&P]
Phil Falcone's Harbinger, the hedge fund that battled for a piece of the New York Times Co. last year, may now be looking to unload its stake. [WSJ]
• CNN has fallen behind MSNBC and Fox News, as you may have heard. [NYT]
PRWeek is going monthly. But it'll still be called PRWeek, so you know. [NYT]
Obsessed starring Beyonce was No. 1 at the box office this weekend. [THR]More