Thursday, March 20, 2008

Murdoch wants Newsday * **

Is a bid for the Long Island paper in play? Will the two media barons make a deal?

Crain's NY has this: "Mr. Murdoch has long had an interest in Newsday. A year ago, around the time that Tribune was exploring a sale of the entire company, he tried to establish a joint operating agreement between the Tribune paper and News Corp.’s New York Post. He told analysts and others that the agreement would create “a very, very powerful combination for advertisers” and turn the money-losing Post into a viable business “in five minutes.”

*Update: Insiders say Murdoch has competition for the buy: media mogul Mort Zuckerman (Daily News) and James L. Dolan (Cablevision). No word on the price, but analysts say Newsday could be worth $350-$400 million. NYT

** Representatives from Rupert Murdoch's New York Post discussed a possible acquisition of Newsday from the debt-laden Tribune Co. as early as late February or early March, sources said Friday. Newsday

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