News Corporation Near Deal to Buy Newsday-Another Paper Falls To Murdoch

[EV_Ares]

By REUTERS
Published: April 22, 2008

Filed at 12:33 a.m. ET
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NEW YORK, April 21 (Reuters) - Tribune Co has reached agreement in principle to sell Newsday to News Corp (NYSE:NWS) for about $580 million in what would be a joint venture, according to a source familiar with the matter.

Under the terms of a deal, Newsday would be part of a joint venture with News Corp's New York Post and other News Corp assets, according to a report in the Wall Street Journal. News Corp would own most of the company and Tribune would keep a stake of less than 5 percent.

Selling the paper would be key to Tribune Chief Executive and Chicago real estate magnate Sam Zell's plans to help slash debt at the company, which he took private in an $8.2 billion buyout last year.

Link to entire article: http://www.nytimes.com/reuters/business/business-tribune-newscorp.html?ref=business

[aquart]

1. Have any of our candidates discussed divestiture?

[EV_Ares]

2. I know Murdoch held a huge fundraiser at his home for Hillary, what do

you supposed that was for? Help by chance to continue increasing his holdings should we get to the WH.

[Perry Logan]

3. Thank God she's got him under her thumb.

[EV_Ares]

4. Oh yeah, right. eom.