Tribune's Newsday Is Suddenly a $400M Must-Have Property
 

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The moguls are going crazy over Newsday, the Long Island newspaper we refuse to touch because it somehow leaves more newsprint on our fingers than any other rag. The paper makes money, which is why the Tribune Co., whose profits took a huge tumble last year, is looking to unload it: Its most profitable assets are also its most lucrative. With an asking price as high as $400 million (down from perhaps the $1 billion it could've fetched five years ago), the fancy lady has suitors with familiar names: Rupert Murdoch, Mort Zuckerman, and Cablevision's James Dolan.

Murdoch is thinking joint venture between the NY Post and Newsday, giving him an edge over Zuckerman's Daily News. Hey! That's why Zuckerman wants it too! Why does Dolan want it? Your guess is as good as ours, but we're gonna go with ego.

Mar 21, 2008 · 5 views (beta) · Link · Respond
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