Murdoch Thwarted | Clipmarks


	Murdoch Thwarted

Andrew Farrell

5-12-2008 10:45 AM

604 views

Andrew Farrell says:

This is a surprising turn of events. Murdoch was willing to offer $580 million for Newsday because he could combine the paper with his New York Post and save a bunch of money.

Dolan's Cablevision lacks the same synergy opportunities with Newsday but he was willing to pay $70 million more. There's no good explanation why so far, but a lot of people are wondering.

Add a Comment

Login to Comment. Not a member yet? Sign up

Today's Top Clips

visit the Top Clips page

View the Top Clips from May 12, 2008

Embed This Clip In Your Site...

<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/1a3a3a66-41b8-4dbc-94ec-a7ef9ee9e5d6/67C1B624-0E8B-4493-82BD-4C37638164E4/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.nytimes.com/2008/05/13/business/media/13cablevision.html?ref=media" href="http://www.nytimes.com/2008/05/13/business/media/13cablevision.html?ref=media" style="font-size: 11px;">www.nytimes.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/13/business/media/13cablevision.html?ref=media"><P><A title="Cablevision" href="http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=CVC">Cablevision</A> Systems and the <A title="Tribune Company" href="http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=TRB;TXA">Tribune Company</A> announced a $650 million deal on Monday that will give Cablevision a 97 percent stake in <A title="More articles about Newsday" href="http://topics.nytimes.com/top/reference/timestopics/organizations/n/newsday/index.html?inline=nyt-org">Newsday</A>.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/13/business/media/13cablevision.html?ref=media"><P>The deal, once considered a long shot, was thrust to the front of the line over the weekend when the <A title="News Corporation" href="http://www.nytimes.com/mem/MWredirect.html?MW=http://custom.marketwatch.com/custom/nyt-com/html-companyprofile.asp&symb=NWS">News Corporation</A>, controlled by <A title="More articles about Rupert Murdoch." href="http://topics.nytimes.com/top/reference/timestopics/people/m/rupert_murdoch/index.html?inline=nyt-per">Rupert Murdoch</A>, pulled its bid, saying it would not raise its offer to compete with Cablevision. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/13/business/media/13cablevision.html?ref=media"><P>About two weeks ago, both Dolans flew to Chicago to meet with <A title="More articles about Samuel Zell." href="http://topics.nytimes.com/top/reference/timestopics/people/z/sam_zell/index.html?inline=nyt-per">Sam Zell</A>, the chief executive of Tribune, and Cablevision’s bankers and lawyers were in Chicago over the weekend finishing the final deal points.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.nytimes.com/2008/05/13/business/media/13cablevision.html?ref=media"><P>An executive of another business who has worked closely with the Dolans said their interest in Newsday could not be entirely economic “because there’s not a business rationale to spend what they’re willing to spend.” This person spoke anonymously to avoid alienating the Dolans for future business.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/67C1B624-0E8B-4493-82BD-4C37638164E4/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

New from the makers of Clipmarks: Amplify.com - Don't just share the news...Amplify it!

Clipmarks: Home; New Clips; Top Clips; Dashboard

Popular Topics: News; Life; Science; Technology; Entertainment

Get Started: Sign Up; Install Clipping Tool; How Clipping Works; Clip-to-Blog™; ClipSearch

Tools and Resources: FAQ; ClipWeek; Top Clippers; Top Tags; Site Map

About Clipmarks: About Us; Contact; Copyright; Privacy; EULA

Search Options

Today's Top Clips