Report: News Corp. (Murdoch) Agrees to Buy 'Newsday'

[Newsjock]

Source: Reuters

Tribune Co has reached agreement in principle to sell Newsday to News Corp for about $580 million in what would be a joint venture, according to a source familiar with the matter.

Under the terms of a deal, Newsday would be part of a joint venture with News Corp's New York Post and other News Corp assets, according to a report in the Wall Street Journal. News Corp would own most of the company and Tribune would keep a stake of less than 5 percent.

... Regulatory issues could slow the sale, particularly media ownership issues that could restrict the number of properties that News Corp and Chief Executive Rupert Murdoch could own in the New York Area.

Read more: http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1003792155

[maddezmom]

1. god, I hope someone puts the brakes on this deal

[YOY]

2. Would someone STOP him already!

He is getting to the point where he owns most of the "read" media establishment in this country.

[cal04]

3. Murdoch, Newsday close to deal

http://www.newsday.com/news/local/longisland/ny-bznews0422,0,3020603.story

Newsday's parent company is near an agreement to sell the Long Island paper to New York Post owner Rupert Murdoch for $580 million, according to a source familiar with the negotiations and to a published report.

Details on a cash deal between the Tribune Co. and Murdoch's News Corp. won't be final for another three or four weeks, the source said. A possible agreement was also reported last night by The Wall Street Journal, which is owned by News Corp. as well.

The Journal reported that the "price structure and governance" have been agreed upon informally and that the Post and Newsday would be separate papers. It also stressed that the sides were hammering out final details and that the deal could still fall apart.

(snip)
Murdoch had recently voiced concerns about not being able to purchase Newsday. He was talking about federal regulators' raising possible antitrust and trade issues because he already owns the Post, Journal and two television stations in New York City. But the financial plight of newspapers in the Internet age may make such antitrust issues moot, experts said


this really stinks for us on Long Island, thanks Newsday

[asjr]

4. The end will finally

be here when America is renamed "Murdochia."

[Norrin Radd]

5. Yes, stop him. This is damaging to democracy.

[NJmaverick]

6. DAMN YOU REPUKES!!! Now you want to have total control of the news

This is very troubling. Very troubling indeed.

[NikolaC]

7. Damnit, Damnit, Damnit!

He is going to turn that wonderful paper into a rag like the the Sun and the Post. DAMNIT! I grew up reading Newsday and, if that deal goes through, that paper is done for.

[Uncle Joe]

8. And the dumbing down of the American People continues.

:(

[DeepModem Mom]

9. Does this wingnut Australian aim to control all news in the U.S.? nt

[Ian David]

10. They'll allow this. They'll even allow XM and Sirius to merge. However...

they suddenly have a problem with anti-trust when Whole Foods wants to merge with Trader Joe's.

[xyouth]

13. Control of all news, food and energy by a couple of companies

The Fascist States of ExxonMurdochMonSantostan.

[annabanana]

11. a number at Tribune Co. where angy LI ers could register

their objections! I was connected to someone who was more than willing to take a message.

"If Long Islanders wanted a Rupert Murdoch paper.. we'd get The Post. The day the deal goes through is the day my sub is cancelled."

(312) 222 - 9100

[DeeDeeNY]

12. Thanks for the tel. number

I'll try, for whatever good it might do

[lovuian]

14. Talk about Monopolies this is ridiculous

thing is he is wasting his movie cause the SMART people are not reading their news or watching it

[sofa king]

15. I thought he already owned them.

This is like finding out that the Nazi Party didn't own the Volkischer Beobachter. You mean to tell me that there are other American fascists running a fake news outlet? Is Talon News independent of Murdoch as well?