Murdoch Closing In on Newsday Deal

Media mogul about to grab third New York paper

By Rob Quinn, Newser Staff

Posted Apr 22, 2008 10:27 AM CDT

(Newser) – Rupert Murdoch's News Corp. empire is closing in on a deal to buy Newsday from the Tribune Company for an $850 million package, reports Reuters. Under the terms of the deal, Newsday would be run as a joint venture with the New York Post, but the papers would remain separate for now. Tribune would get $550 million in cash and retain a 5% stake in Newsday.

The mastheads of the New York Post and Newsday are seen in this photo in New York, Friday, March 21, 2008. Media conglomerate Tribune Co. reported a $78 million fourth-quarter loss from continuing operations... (AP Photo/Richard Drew)

Rupert Murdoch, chairman of News Corporation, speaks at the dedication ceremony for the Newseum, a museum about journalism and the First Amendment, in Washington, Friday April 11, 2008. (AP Photo/Jacquelyn Martin)

Rupert Murdoch speaks at a news conference in New York. (AP Photo/Mark Lennihan, File)

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Murdoch Closing In on Newsday Deal

Media mogul about to grab third New York paper

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Murdoch Closing In on Newsday Deal

Media mogul about to grab third New York paper

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OTHER STORIES ON OUR RADAR

newspaper • Rupert Murdoch • Tribune Company • New York Post • acquisition • Newsday • media ownership • News Corp

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Zell Might Sell Newsday

Tribune Co. may unload paper; Rupert Murdoch is interested

Murdoch Drops Newsday Bid

News Corp. calls matching Cablevision's $650 million offer "uneconomical"

Daily News Owner Makes Newsday Bid

Zuckerman v. Murdoch fight may hinge on who can clear FCC

Murdoch Calls FCC Bluff With Newsday Move

News Corp. would need waiver to dodge anti-consolidation rules

Newsday Sale Another Bad Sign in Teetering Industry

New paper owners face outlook grimmer than those that scared off predecessors

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