Murdoch: All Ur Paper Are Belong to Us
It looks like Rupert Murdoch is going to win the three-way fight for Newsday. Newsday itself and The Wall Street Journal are both reporting that News Corp. and Tribune are close to a deal under which the former would buy the Long Island paper for $580 million and sink it into a joint venture with the New York Post.
The resulting combination "is expected to wipe out as much as $50 million in annual losses News Corp. now incurs on the Post, with the combined Newsday-Post operation earning roughly $50 million, one person familiar with the situation said," reports the Journal ...





