Newsday is fast becoming the hottest media commodity on the market. Ever since Rupert Murdoch made known his interest in adding the paper to his growing list of New York media acquisitions, the field of contenders vying for ownership of Long Island based newspaper has continued to increase (handshake deals aren’t what they used to be, apparently).
Fellow New York media mogul Mort Zuckerman has made no secret he hopes to give Rupe a run for his money and now dark horse Cablevision, who had initially hinted in March that they were out of the running, has reportedly returned with $650 million offer, trumping both Rupe’s and Zuckerman’s bids by a good $70 million. Newbie Jared Kushner, owner of the Observer media group, had also expressed interest but was reportedly put off by the deeper pockets of Mort and Rupe and then further re-buffed when the Dolan family (owners of Cablevision) turned down a joint offer and decided to “go it alone.”
Cablevision, an operator of cable television systems and owner of Madison Square Garden, the New York Knicks, the New York Rangers and Radio City Music Hall, could throw a wrench in the anticipated NYDN/NYP proxy battle for New York media turf — a struggle which might eventually include Michael Bloomberg (or at least we can dream…since that’s kind of story that might ease the media’s post-election hangover come November).
To be continued…ad nauseam, we imagine.