Create your Benton.org account today. Registration is quick and easy. Creating an account gives you access to special features, click to learn more.
Seth Sutel
'Newsday' sale eases Tribune debt - for now
Submitted by Benton Foundation on May 13, 2008 - 7:15amLast updated: May 13, 2008 - 1:59pm
Tribune Co.'s $650 million sale of Newsday, announced Monday, is an important step toward alleviating its debt burden -- for this year. To get favorable tax treatment, Tribune will retain a 3% stake in a joint venture to be formed containing Newsday, as well as several related assets, including Newsday.com, some regional magazines and the free New York City daily newspaper amNewYork.
Murdoch won't raise bid for Newsday
Submitted by Benton Foundation on May 5, 2008 - 7:27amLast updated: May 13, 2008 - 2:01pm
Rupert Murdoch's News Corp., which had appeared close to a deal to buy Newsday, doesn't plan to raise its bid for the Long Island newspaper despite a higher offer from Cablevision Systems.
