After a flurry of reports this morning that Rupert Murdoch was closing in on a $580 million deal with Sam Zell’s Tribune Co. to purchase Newsday, Gawker.com is reporting additional (unconfirmed) news. Rupert Murdoch is hoping to blend the production of Newsday with the New York papers he already owns, the Wall Street Journal and the New York Post, and one of his main obstacles was rival Mort Zuckerman, who owns the Daily News. But the Website reports that Zuckerman has dropped out, leaving underdogs Jared Kushner and Cablevision as Murdoch’s only foes in this deal. Regardless of whether Zuckerman has dropped out, this buzz probably means we’re going to get an announcement of some sort rather soon — like, maybe this week. Whether that noise you hear rippling across the city is Murdoch chuckling, or cracking his knuckles, remains to be seen.
Sources: Murdoch closing in on deal for Newsday for $580M [CNN Money]
Old Man in a Hurry [Gawker]