WSJ: News Corp Nearing $580M Deal For Newsday

Tribune Co. is closing in on an agreement to sell its Long Island newspaper Newsday to News Corp. for about $580 million, according to individuals familiar with the situation.

Final details are being hammered out and a deal could yet fall apart, but Tribune and News Corp. have informally agreed on key aspects, including the price, structure and governance, these people said

Under the terms being discussed, Newsday would be part of a joint venture with News Corp.'s New York Post and various non-newspaper assets owned by News Corp., people familiar with the matter said. News Corp. would own the bulk of the combination, with Tribune retaining a stake of less than 5%.

Read the whole story here.

Comments

[filo]

I live on Long Island and I guess I might as well cancel my Newsday subscription in favor of the Post. The only thing they will be good for is lining the bottom of the bird cage!

[beekeeper]

one more notch in the propaganda belt.

[iPolitics]

More tabloids! More right-wing shills!

[batgirlevi]

Ick.

[HappyHumanist]

So sad for Newsday. I don't live on LI anymore, but was a regular subscriber. I envision millions like me who still live there and will cancel their subscriptions. If Newsday is a Long Island version of the Post, who needs it? People already have that crap rag.

Too bad. As others have written, it was a great newspaper. RIP Newsday.

[bola47]

i agree. if i still lived on the island i would cancel my subscription.

[QuestionWhy]

Why did the media ignore Comet Holmes which stunned the scientific community in October 07 by brightening a million fold? Astronomers were speechless!

Understand the unfolding events of Revelation 12 and you will have your answer!

www.hismailroom.com

[brend]

Way to go Rupert, keep buying, try the huffpo next.

[tomcatv1]

Pity the poor people who work for Newsday now. To wake up and find our you're working for a third rate hack from Australia who's only claim to fame is being very good at catering to the lowest common demoninator in American society and being friends with the worst bunch of criminals who have ever run this country... and getting away with it. I give it 60 days before someone shows up between the pages of Newsday naked as a blue jay. Newsday will become Fox News in print.

[KindAndThoughtful]

Agree with him, or disagree with him...but Rupert Murdoch is a financial genius.

[beekeeper]

Uh no he is a gluttonous pig that shoves his propaganda down our throats for his financial gain

[RS]

No, like most right-wing conservatives, Rupert Murdoch got to where he is in life the old fashioned way--BY INHERITING.

[BPCentrisAmerican]

Newsday had some very good investigative reporters working for it.

Well that"s over, Murdock will turned it into a tabloid rag. This guy is really shit to shoe level journalism. Tony Blankley a columnist for the Moonie rag, Washington Times, which has lost money every yerar since Moon acquired it in the early 80"s, hit the nail on the head when he predicted an acquisition and merger frenzy in the last year of the decider"s shit kicker administration, since Bush and his whore house FCC is so friendly to corporations. The only good thing is that Bush-Cheney pushed the envelope so hard that the GOP can be in the weeds for the next 40 years, the last time that happened was after the Hoover years, although I admit that Hoover was much more decent and patriotic man than George Bush. Hoover was a victim of circumstances that ideologues like Bush-Cheney left him.

[mellene]

Murdoch is out to destroy what we knew as the WSJ. It's a shame that someone not from America can take it over and try to remake it in his image of news. Disgusted, prior subscriber.

[Tom95134]

Another newspaper about to bite the dust under the thumb of Murdoch. It's been a while since I lived in the New York area but Newsday had some very good investigative reporters working for it.

[frappe]

I hope that the antitrust division under Barack Obama begins to break up these monolithic media empires. They are bad for freedom, independence, and for democracy. Our democracy was not designed or structured to benefit from such conglomerations where the few dictate to the many.

[brend]

You better start with Disney they own more companies than any other company in the United States.

[andyboy]

Hopefully Newscorp will be able to consolidate ALL MEDIA together.

That would be great for America.

We need the media to stay on message. The Pentagon propogandists told me.

[Irons]

Money rules America.

[Chavez08]

Always has. This is what pure Capitalism is, a system of slaves and kings. Most Americans thought they'd be in the latter category so they looked away or cheered when Capitalists destroyed every check and balance of power, calling any interference "Socialist".

We cheered on and sang slogans against the lawyers, consumer protectionists and labor organizations in tune with Daddy Reagan.

We still haven't woken up. Most Americans still believe in the "Trickle Down", reasoning that it must be "stuck in traffic" but it will get there, believing in their little hearts that the power elite have evolved and would never again enslave us like they did prior to labor unions and "Socialist" protections.

Now U.S. propaganda is finitely controlled or influenced by a single Australian Communist. Ironic, huh?

[lisakaz2]

Yikes. Hate to see my former employer go the way of Faux News. More unreality for readers. Glad he can't buy the internet (yet).

[brend]

Give him time, he's working on a deal with Microsoft as we speak

[Chavez08]

Rest assured, the Internet will be controlled by the Oligarchs sooner or later.

They are do everything possible to make peaceful revolution impossible.

[NYRalf]

This is awful news for NYers. Newsday is one of the last reputable papers in the area.