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July 25, 2008 11:17:33 AM CDT

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Zell Might Sell Newsday

Posted Mar 20, 08 9:44 PM CDT in Business 

(Newser) – Falling ad revenues could push Sam Zell's Tribune Company to sell Newsday, the Long Island newspaper with the 10th-highest circulation in the nation, the New York Times reports. Among those interested are Rupert Murdoch, who already owns the New York Post. Also in the running are the owner of the Daily News and the family that runs Cablevision. Tribune announced yesterday it lost $78 million in the fourth quarter.

Tribune has been saddled with debt since real estate mogul Zell took the company private late last year. Newspaper ad revenue dropped 15% in the fourth quarter, and Zell recently told Baltimore Sun staffers that “we may have to re-evaluate a lot of our decisions” in light of that trend. Tribune also owns the Los Angeles Times, Chicago Tribune, and the Chicago Cubs.

Source New York Times

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Rupert Murdoch's News Corp. is reportedly in talks with Tribune about the possible sale of Newsday.   (AP Photo/Mark Lennihan, File)
Real estate billionaire Sam Zell took control of Tribune Company in December and began shaking up the newspaper and TV company the moment the $8.2 billion buyout he led closed.   (AP Photo/Charles Rex Arbogast)
News Corp's headquarters are pictured in this 2007 file photo. The company is reportedly in talks with Tribune about the possible sale of Newsday.   (AP Photo/Mark Lennihan)
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Rupert Murdoch  • News Corp  • Tribune Company  • Sam Zell  • ad revenue  • Newsday  • New York Post  • Mortimer Zuckerman


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