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Murdoch has eyes on Newsday
Rupert Murdoch might be adding yet another newspaper to his list of media properties in New York.
According to the Wall Street Journal, which he owns by the way, Tribune has agreed to sell Newsday to News Corp. for about $580 million. Newsday would become part of a joint venture with the New York Post. That would help News Corp. balance the $50 million in annual losses that the New York Post brings in now.
The deal might face some regulatory issues. Three major newspapers might be just too many for Rupert Murdoch to own in the same city.
Posted by Lori Stassi on April 22, 2008 2:39 AM PT | Permalink
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