Zuckerman Muscles in on Newsday Fight

29 April 2008

NEW YORK: A putative deal between billionaire media moguls Rupert Murdoch and Sam Zell for the latter's Newsday title may have been derailed by a bid from fellow heavyweight Mort Zuckerman (pictured).

The real estate developer and publisher has reportedly offered £580 million (€364m; £292m) for the Long Island-based daily newspaper, the same carrot dangled by Murdoch's News Corporation empire.

The NewsCorp offer, however, carries the potential of regulatory entanglements and, as a result, Zuckerman's may prove a more attractive proposition.

The Tribune Company, now controlled by Zell, is looking to sell Newsday following worse-than-expected double-digit newspaper revenue declines last year.

Data sourced from Financial Times Online; additional content by WARC staff