News Corp pulls bid for Newsday
NEW YORK |
NEW YORK (Reuters) - Rupert Murdoch's News Corp NWSa.N has withdrawn its bid to buy Tribune Co's Newsday newspaper, a spokesman said on Saturday.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 (CVC.N) 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)
- Tweet this
- Share this
- Digg this