Rupert Murdoch: One Step Closer to Owning All Media, Everywhere
The NYTs is reporting that Tribune owned Newsday has reached an “agreement in principle” to sell the Long Island based newspaper to Rupert Murdoch owned News Corp for $580 millon.
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.
The deal may take some time to be finalized due to a little something called “media ownership issues,” which “could restrict the number of properties…Murdoch could own in the New York Area” and ostensibly throw a wrench into Rupe’s apparent plan to be sole proprietor of all New York media.
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