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July 25, 2008 12:27:17 PM CDT

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Daily News Owner Makes Newsday Bid

Posted Apr 26, 08 6:02 AM CDT in Business 

(Newser) – Daily News owner Mort Zuckerman has matched Rupert Murdoch's bid for Newsday, the New York Times reports—but didn't go a penny over the $580 million the New York Post owner offered. Instead Zuckerman claimed his bid is the better one because, unlike Murdoch's, it doesn't run the risk of running into an FCC tripwire.

Murdoch already owns two TV stations and two newspapers in New York, and the FCC would be certain to take a close look at the market effect of his adding a third. “One of the things you have to consider when getting an offer is who can close on it,” an exec close to Zuckerman tells the Times. With the owners of the New York  Observer and Cablevision said to be preparing a joint bid, a three-way battle for Newsday could be ahead.

Source New York Times

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The mastheads of the New York Post and Newsday are seen in this photo in New York, Friday, March 21, 2008.   (AP Photo/Richard Drew)
This Oct. 30, 2007 file photo shows Mort Zuckerman in New York. Zucherman, the owner of the New York Daily News, has offered $580 million to acquire Newsday.   (AP Photo/Richard Drew, File)
The entry of New York Daily News owner Mortimer Zuckerman into the bidding for Newsday could mark the start of a bidding war with Rupert Murdoch.   (Getty Images)
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Rupert Murdoch  • FCC  • Tribune Company  • Sam Zell  • Newsday  • Cablevision  • New York Post  • Mortimer Zuckerman  • New York Daily News


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