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Cablevision on Monday morning (May 12) announced its second major acquisition in just over a week, having agreed to pony up $650 million for the Long Island daily paper, Newsday.
Per terms of the deal, Cablevision will pick up approximately 97 percent of Newsday Media Group, a collection of publications and online properties that includes the flagship paper and its digital extension, Newsday.com, as well as the free daily tabloid, amNewYork.
Tribune Company will retain the remaining 3 percent stake.
Cablevision
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