NEW YORK (Reuters) - A painting by artist Jackson Pollock has been sold for about $140 million, which would make it the highest price ever paid for a painting, The New York Times newspaper reported on Thursday.

Citing experts who spoke on the condition of anonymity, the Times reported that Hollywood mogul David Geffen had sold the painting "No. 5, 1948" to Mexican financier David Martinez in a deal brokered by Sotheby's Tobias Meyer.

If the Pollock painting sale is confirmed, it would surpass the previous world record price paid for a painting, which was set in June when cosmetics magnate Ronald S. Lauder paid $135 million for a 1907 portrait by Austrian artist Gustav Klimt.

Geffen, Martinez and Sotheby's were not immediately available for comment.

The Times described Martinez as a "megabuyer" of modern art who had purchased works by masters such as Willem de Kooning and Mark Rothko in recent years.

"No. 5, 1948" is about 4 by 8 feet and features Pollock's drip-and-pour style in a tangle of red, yellow and blue.

Did his money come from the music biz or somewhere else?

Oh yes; he started in the mailroom as a postboy at an agency and went on to manage Joni Mitchell and others; then formed Geffen Records, made millions, formed Dreamworks with Speilberg... it's a good story.

I went with him as his guest to the opening Broadway night of Dreamgirls when Jennifer Holliday stopped the show at the end of Part One with And I Am Telling You I'm Not Going.

Lots more I could tell you that I wouldn't dream of sharing.

there are great stories about geffen and azoff or geffen and yetnikoff ...

I was there for it all DJ!!