Tuesday, April 22, 2008

Murdoch to buy Newsday

Well this certainly sucks. Long Island institution Newsday is being bought up by News Corp. It seems like just a few months ago New York had a handful of different newspapers.

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.


Or, to put it another way:

Under the terms of a deal, Newsday would be part of a joint venture with Murdoch's Murdoch and other Murdoch assets, according to a report in Murdoch. Murdoch would own most of the company and Tribune would keep a stake of less than 5 percent.