News Corp pulls bid for Newsday

NEW YORK (Reuters) - Rupert Murdoch's News Corp (NWSa.N: Quote, Profile, Research) has withdrawn its bid to buy Tribune Co's Newsday newspaper, a spokesman said on Saturday.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: Quote, Profile, Research) 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)