Murdoch could face battle for Newsday as second bidder emerges

by Staff, Brand Republic 28-Apr-08, 10:35

NEW YORK - Rupert Murdoch could face a fight in his attempt to buy Newsday after reports that rival media owner Mortimer Zuckerman has matched his $580m (£292m) bid for the Tribune-owned newspaper.

Although the details of Zuckerman's offer are understood to be similar to that of News Corporation, it would likely face less scrutiny from US regulators than a Murdoch deal.

News Corp already owns several media properties in New York, including The New York Post, the local television station WNYW-TV, as well as The Wall Street Journal and the Fox television network.

Although Zuckerman owns the New York Daily Post, his lack of a television station in the area would make a deal with him less likely to encounter regulatory resistance than one with Murdoch.

The terms of Murdoch's offer would leave Tribune owning a 5% share of Newsday.

Tribune has put Newsday and other assets up for sale to help pay off some of the debt accrued in a $8.2bn buyout, headed by chief executive and real estate billionaire Sam Zell.