News Corp. withdraws bid to purchase Newsday

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5 days 18 hours 12 min ago

News Corp. withdraws bid to purchase Newsday

NEW YORK (AP) - A spokeswoman for Rupert Murdoch's News Corp.
says the media conglomerate has withdrawn its bid to purchase
Newsday.

The decision to revoke the offer Saturday comes just days after
Murdoch confidently predicted he would clinch a deal to buy the
Long Island newspaper within a week.

News Corp. had offered about $580 million for the paper, one of
the country's biggest. The company already owns two other New York
newspapers, the Wall Street Journal and the New York Post.

Cablevision and New York Daily News owner Mortimer Zuckerman
were also reported to be in the running for Newsday, now owned by
the Tribune Co.