Media Mogul Confident of Acquiring Newsday
Media Mogul Rupert Murdoch says he is confident he will become the new owner of New York Newsday. A bold declaration despite reports that New York Daily News owner Mortimer Zuckerman is expected to raise his bid to match Murdoch's $580 million bid and that Cablevision has already offered $650 million.
During a News Corp. earnings call with analysts, Murdoch expressed his certainty that Cablevisions' bid would not affect his offer. "No, I don't think Cablevision will prevail. Just be patient a couple of days," Murdoch said.
During the call, Murdoch also said that there are no plans to merge the new acquisition with his other daily, The New York Post. "We're not putting them to be one newspaper. But there are great savings in printing and distribution and normal back office. There's a lot we can do together and we'll pursue that," he said.
"We see
Newsday continuing to be a very important local newspaper covering two of the greatest counties in America and wealthiest counties in America, and the
Post covering basically the city of New York, a paper with a very different character," Murdoch added.
Murdoch also announced that the New York Post will increase its cover price from 25 to 50 cents starting May 19.
