As first reported yesterday by Crains New York, News Corp. chairman Rupert Murdoch — who recently acquired Dow Jones (and the Wall Street Journal flagship that came with it — is eyeing Sam Zell's Newsday, confirmed by Murdoch's own New York Post today.
But the New York Times adds that Murdoch is not alone in the hunt for Newsday. Fellow media moguls Mort Zuckerman (who owns New York Post rival Daily News) and Cablevision owner Jim Dolan are also bidding for the Long Island paper. From the NYT:
Mr. Murdoch, for example, is considering a deal that would be structured as a joint venture between The Post and Newsday, that would combine the back-office operations of the two papers. None of the people involved in the auction would be identified because of the confidential nature of the talks....
Mr. Zuckerman is also considering a joint venture between The Daily News and Newsday, according to people with knowledge of the auction....
Cablevision, meanwhile, is said to be interested in acquiring Newsday outright. Cablevision, like Newsday, is based in Long Island, where the company also owns a local news station. Representatives for News Corporation, Cablevision and Mr. Zuckerman all declined comment.
Read the entire New York Times article, which includes speculation about Newsday's valuation here, or read what legendary Newsday columnist Jimmy Breslin — a vocal critic of Rupert Murdoch — had to say about the potential sale of his paper to the man he's criticized so much here (his response will surprise you).
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