Rupert Murdoch To Bid On Newsday’s Parent
This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.
The Financial Times Website reported yesterday that Rupert Murdoch’s News Corp. will join the California-based Chandler family in a bid for the Tribune Company, the publisher of Newsday.
According to the Financial Times, “a person familiar with the situation” said that Mr. Murdoch intends to combine the non-editorial functions of the profitable Newsday with those of the New York Post. The Post, despite large gains in circulation in recent years, continues to lose money.
The Financial Times also quoted its source as saying that Mr. Murdoch would take a small stake in the Tribune Co., which also owns the Los Angeles Times and the Chicago Tribune, rather than trying to buy Newsday outright.
