Murdoch quits US newspaper fight (BBC) {Newsday takeover bid}

[eppur_se_muova]

Rupert Murdoch's News Corporation has withdrawn a bid to buy US newspaper Newsday only days after seemingly being in pole position to acquire it.

News Corp, whose titles include the Wall Street Journal and the New York Post, had offered about $580m (£297m) for the New York state-based organ.

However, stiff competition emerged from broadcaster Cablevision and rival newspaper magnate Mort Zuckerman.

A News Corp spokesman said the bid had become "uneconomical".
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more: http://news.bbc.co.uk/2/hi/business/7394762.stm

[LTR]

1. And the winner is... Cablevision

http://online.wsj.com/article/SB121059425500784983.html?mod=googlenews_wsj

At least this keeps ownership on Long Island, and by a company with no other local newspaper interests.