Posted on 04/22/2008 12:41:12 AM PDT by HAL9000
Excerpt -
LONDON (MarketWatch) -- Tribune Co. has reached an agreement in principle to sell Newsday to News Corp for $580 million, The Wall Street Journal and Reuters reported, citing unnamed sources. 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 the reports. News Corp would own most of the company and Tribune would keep a stake of less than 5%, both reports added.~ snip ~
(Excerpt) Read more at research.tdameritrade.com ...
NewsCorp is owned by Rupert Murdoch right? If so, this is good news!
Yes, Rupert Murdoch runs News Corp. But someday, his sons will be running it, and we may regret it then.
That Prince is on Forbes’ Richest Man list. He has made tons of Money investing in Citibank as well. I think Publicly owned companies can be bought by anyone and that includes Middle Eastern Investors. All this Oil money and other money they are making, its going to be invested somewhere. I won’t be too worried. Murdoch knows what he is doing. Wrote a GREAT ARTICLE today on Atlantic Alliance in Wall Stree Journal. That guy doesn’t sound like someone who would sell his operation to Terrorists.
I’m not too concerned about an individual investor like bin Talal. He’s been investing in U.S. companies for a long time, and he has a good track record. I am more worried about the “sovereign wealth funds”, where foreign nations like Dubai are buying our financial institutions.
If they are flaming liberals, then we sure would regret it. But if they are just party dudes, then I think they would like to keep the good thing going. If they are the depressed-kind - guys who get picked on by liberal freinds for being children of Conservatives, and then they have a chip on their shoulder and they have to go out of their way to prove they are Liberals, then we would be *****.
I was thinking of Ron Reagan Jr. in depressed/Chip on shoulder type guys......they warn to earn their Liberal Creds......
What on the balance sheet of such a publication could possibly be worth half a billion?
Reporters are now commodities.
Distribution is a commodity.
Newsprint is optional due to the Web.
Advertisers are moving buys online.
Classifieds are hugely moving online.
Readership is down.
This is horizontal monopolization, not cost-saving vertical integration.
I think Rupert’s paying too much for Newsday. I suggest no one get in the way of GraveDancer Zell when he heads to the bank to cash his check.
I think Rupert paid too much for Dow Jones. As a former Dow Jones stockholder, I am glad he did. I, too ran to the bank to cash my check.
YOU GO, RUPERT!!!!!!
The NY Daily News will cease to publish within 5 years..
Why? It will slam to the left like everything else he owns.
LLS
Sounds to me like News Corp. overpaid for this liberal rag. At least now they will likely move the editorial policy to the middle and improve on a lousy paper. Next stop is the NY Slimes. News Corp. could do wonders with what is currently a treasonous way left rag and making it a world class paper rather than the fish wrap it is.
http://www.newsday.com/news/local/longisland/ny-bznews0422,0,3020603.story
Murdoch, Newsday close to deal
BY ELLEN YAN
12:32 AM EDT, April 22, 2008
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.
According to The Journal, Tribune would keep a stake of less than 5%.
The development follows a Thursday phone conference in which Tribune chief Sam Zell told lenders and investors that bids for Newsday were being considered but that no decision had been made.
snip
I believe 99.99% of the people would disagree with your characterization of Murdoch and NewsCorp as “leftists”.
LLS
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