News Corp pulls bid for Newsday
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Sat, 10 May 2008 16:48:02 GMT |
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NEW YORK (Reuters) - Rupert Murdoch's News Corp has withdrawn its bid to buy Tribune Co's Newsday newspaper, a spokesman said on Saturday.The spokesman said the deal had become "uneconomical."Cablevision Systems Corp earlier bid $650 million to buy the newspaper, topping two $580 million offers -- one from News Corp and one from New York Daily News publisher Mortimer Zuckerman.(Reporting by Kenneth Li; editing by Mohammad Zargham)
(c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
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