Considering that any deal isn’t likely until near the election, I highly doubt Rupert Murdoch will clear the antitrust hurdles necessary to complete his proposed $580 million offer for Long Island daily Newsday.
Having three of the nation’s top 10 papers, plus three in the NYC market (the Sun and the Wall Street Journal as well) would probably draw close regulator scrutiny.
But, a dingy gray knight is prepared to do battle with Murdoch the black knight. Mortimer Zuckerman, owner of the Daily News, also wants Newsday and is crafting a counteroffer.
Mort wouldn’t be much better than Rupert.
Better yet, and more reflective of NYC political realities, would be a takeover by the Observer, which is reportedly partnering with Cablevision to prepare an offer.
All three would want joint ad deals and sales the combo could offer. At the same time, Newsday continues to sag in its performance.
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