After Murdoch’s News Corp. (New York Post, Wall Street Journal, local TV) and Mortimer Zuckerman (New York Daily News), also Long Island firm Cablevision will be bidding for NY newspaper Newsday. In this sale free daily amNewYork is included.
Cablevision, owned by the Dolan family, is offering $650m - $70m more than both other bidders - for the Tribune owned company, although the sale would also include some estate and other assets. Cablevision operates cable, telecommunications and Internet businesses on Long Island, including cable and online news service News 12. (Chicago Tribune)
While Newsday is losing money, which all bidders see reduced because of synergy effects with their own operations, amNewYork is making a profit.