News Corp drops $580m bid for Newsday
Posted
by
Paul McNally
on 11 May 2008
at 12:44
Tags: Media Business, National Newspapers
Rupert Murdoch has abandoned plans to buy the New York suburban daily Newsday.
News Corp said it was “uneconomical” to raise its bid, after its original $580m bid for the title was met with a rival $650m offer by TV operator Cablevision.
New York Daily News owner Mort Zuckerman is still reported to be in the race to take control of the paper.
