Rupe Pulls a Fast One: Newsday to Cablevision
Only days after confidently declaring that the Newsday deal would be concluded shortly, and presumably in his favor, Rupert Murdoch abruptly pulled out of the bidding over the week-end, a move which landed the paper squarely in the hands of Dolan family owned Cablevision.
Despite rumors that Tribune Co. head Sam Zell was considering Rupe’s offer over the higher one of Cablevision, it appears that in the end losing Rupe’s good favor may have been worth the $70 million after all.
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