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We live and work in exciting times - revolutionary times. Technology continues to recast the media industry.

The extraordinary advance of affordable personal digital technology and the stellar rise of social networks are both distrupting and transforming the media market making this a unique moment to be involved in the convergence sectors we focus on.

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Thursday 8 May 2008

Fascinating battle for streets of New York

Third bidder for Newsday & amNewYork

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.

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