Cablevision Purchase of Newsday Clears Government Hurdle

13cablevision-span-600-1.jpgWell, that was fast. After a lot of huffing and puffing last month over FCC regulations it took the Justice Department and the Federal Trade Commission about thismuch time to approve Cablevision Systems Corp.’s $650-million bid to buy Newsday. That said, according to Newsday the approval was no real surprise “the Bush administration has not considered such acquisitions a threat to competition.” (Which sort of begs the question, does the Bush administration find anything a threat to competition in this country). No word yet on when the deal might officially close.