Murdoch expects to seal Newsday deal in a week

AP
Friday, May 9, 2008

NEW YORK -- News Corp. CEO Rupert Murdoch said Wednesday he expects to clinch a deal to buy the Long

Island-based newspaper Newsday within a week, despite a higher offer from Cablevision Systems Corp.

The news came as the global media conglomerate reported that its latest quarterly earnings more than tripled to US$2.69 billion on a one-time gain from a stock exchange with Liberty Media Corp.

News Corp. had been reported to be in a tentative deal to acquire Newsday for US$580 million when Cablevision weighed in with an offer of US$650 million.

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Murdoch expects to seal Newsday deal in a week

APFriday, May 9, 2008

AP
Friday, May 9, 2008