Cable opeartor Cablevision acquired Tribune’s New York paper Newsday and free daily amNewYork. The company had a big cheque book paying $650m for the paper, more than the $580m Murdoch’s Newscorp was willing to pay.
On the surface this looks the dullest of the possible outcomes.It would have been much more fun for Murdoch (NY Post) or Zuckerman (NY News) to have been the winner as it would have intensified the already fierce daily battle for the streets of new york.
However we have long thought that a local metropolitan newspaper and a local cable channels was a winning combination. Well with Cablevision owning Newsday and amNewYork we will be able to see first hand whether its infact a profitable tag team capable of withstanding the enormous pressure imposed by the big local media beasts.
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