According to Crain's, Rupert Murdoch and News Corp. might be plotting to buy Long Island tabloid Newsday. The news comes shortly after the release of the quarterly results of the Tribune Company (Newsday's owner), which showed a $78 million loss in its continuing operations at the end of 2007. Sam Zell, the new owner of Tribune, had said originally that he wanted to keep all of the print assets together. But in light of the recent numbers, he said in a statement, "We have begun a strategic review." Newsday also owns the free paper am New York. Murdoch has pursued advertising agreements with Newsday before, but was rebuffed. As we all know by now, whatever Murdoch wants, Murdoch gets, so we look forward to seeing where this all ends up. Reps for both companies didn't come up with comments, so we'll see what happens. It's not like a possible bid would stay quiet for long; Murdoch has the subtlety of an open fist in the groin. A soft open fist.
Murdoch making a play for Newsday [Crain's NY]