Cablevision Still Spending Money
Last week Cablevision made a deal to buy The Sundance Channel for $496 million in stock & cash. Today it looks like Cablevision will deal out $650 million for the Tribune Company’s Newsday.
Newsday is the 11th largest newspaper in the country and one of the many assets of the Tribune Company that Sam Zell plans to sell since he took over the company.
Read the New York Times story here.
Zell Cuts Continue
Looks like Sam Zell is trying to prove that the writers of HBO’s “The Wire” are right-on in their assessment of life at the country’s newspapers. Zell slashed another 120 jobs, this time at New York’s Newsday. Read the New York Post story here.
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