FCC Chief Wants to Lift Cross-Ownership Rule

(NEWSER) - Sam Zell’s $8.2-billion bid to take the Tribune Company private got a boost yesterday from FCC Chairman Kevin Martin, who green-lighted a two-year exemption on rules barring ownership of newspapers and broadcast stations in the same market. Zell needs waivers for five markets in which the Tribune has dual ownership, reports the Los Angeles Times. The FCC could act as soon as tomorrow, and the deal could close by year’s end. More»

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

(NEWSER) - Rupert Murdoch has dropped his $580 million bid for Newsday. Cable operator Cablevision has offered $650 million for the Long Island daily, and Murdoch’s News Corp. said a higher bid would be “uneconomical.” The media tycoon’s dropout was unexpected, Reuters says, considering Murdoch recently told investors a deal was nearly done. A $580 million bid from Mortimer Zuckerman, owner of the rival Daily News, remains on the table. More»

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

(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. More»

Tribune Co. may unload paper; Rupert Murdoch is interested

(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. More»

Company unloads local operations to focus on larger markets

(NEWSER) - News Corp., shifting its focus to its larger, more profitable properties, will sell eight of its medium-market Fox network TV stations to investment firm Oak Hill Capital Partners for $1.1 billion. The sale will leave the media company, which acquired the Wall Street Journal and Dow Jones for $5.2 billion this year, with 27 stations, Bloomberg reports. More»