Crain's New York Business reports that Rupert Murdoch's News Corp. submitted a bid for the Tribune Company's Newsday.

According to one newspaper industry insider, the company has made a bid for Tribune Co.'s Long Island paper. Newsday also owns amNew York, a daily tabloid handed out free in New York City.

Talk of the bid has surfaced at the same time that Tribune's new chief executive Sam Zell has said that an advertising downturn has forced him to consider selling off company assets. Additionally, Standard & Poor's Ratings Services lowered its corporate credit rating on the media company to B- from B this week.

When called by FishbowlNY for comment, Gary Weitman, vice president, communications corporate relations at Tribune Co., declined to confirm or deny the story. "There's not really anything we can say," he said.

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