News Corp pulls bid for Newsday
NEW YORK (Reuters) - Rupert Murdoch's News Corp NWSa.N has withdrawn its bid to buy Tribune Co's Newsday newspaper, a spokesman said on Saturday.
The spokesman said the deal had become "uneconomical."
Cablevision Systems Corp (CVC.N) earlier bid $650 million (332 million pounds) to buy the newspaper, topping two $580 million offers -- one from News Corp and one from New York Daily News publisher Mortimer Zuckerman.
(Reporting by Kenneth Li; editing by Mohammad Zargham)
© Thomson Reuters 2009 All rights reserved.
Bolton bets on China
Top-performing fund manager Anthony Bolton says he plans to return to managing money next year, with a focus on the increasingly important Chinese market. Full Article
UK
US
Gold fever spreads