Cablevision Wins Bid for Newsday
Rupert Murdoch dropped his bid for Newsday on Saturday, making Cablevision the winner.
Cablevision and the Tribune reached an agreement where Newsday would be sold for $650 million dollars. “The possibilities are unlimited as these two Long Island media properties join forces to create new ways of delivering exceptional editorial content, with deep knowledge of and commitment to Long Island and New York,” said Newsday publisher Tim Knight.
The sale and relationship with Cablevision and Tribune is a unique one, but hopefully the strength of the two will enable Newsday’s share, both online and offline, and their revenues to improve,.
