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Zell Might Sell Newsday

Tribune Co. may unload paper; Rupert Murdoch is interested

By Laurel Jorgensen, Newser Staff

Posted Mar 20, 2008 9:44 PM CDT

(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... Read full story »

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Rupert Murdoch • Sam Zell • Tribune Company • New York Post • ad revenue • Newsday • News Corp • James L. Dolan • Mortimer Zuckerman

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Murdoch Drops Newsday Bid

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(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»

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(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»

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(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. More»

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(NEWSER) - Just last year, Sam Zell was optimistic enough about newspapers to buy the Tribune Company. Now he’s selling Newsday, one of the conglomerate’s top publications. “The news business is something worse than horrible,” he said recently. Across the industry, gung-ho new owners like Zell are experiencing buyer’s remorse, David Carr writes in the New York Times. More»

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

(NEWSER) - Rupert Murdoch is betting new federal standards limiting media ownership to one TV station and one newspaper (per market) won't keep him from buying a fifth New York outlet. The mogul has long held waivers to control media in excess of the rules, and he doesn't think recent enforcement pledges will stop him from winning permission to own Newsday, the Times reports. More»

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Zell Might Sell Newsday

Tribune Co. may unload paper; Rupert Murdoch is interested

Rupert Murdoch • Sam Zell • Tribune Company • New York Post • ad revenue • Newsday • News Corp • James L. Dolan • Mortimer Zuckerman

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