(RTTNews) - Several reports say that Tribune Co.
(TXA) is close to a deal to sell its Long Island newspaper Newsday to Cablevision Systems Corp.
(CVC) for $650 million. This deal is expected to be announced as soon as Monday. Tribune decided to sell Newsday since Sam Zell took effective control of the company in December 2007.
Earlier, there were report that Rupert Murdoch's News Corp. (NWS, NWS.A) has dropped $580 million bid to buy Newsday. It is said that Mortimer Zuckerman of Daily news also was in the fray since January 2008.
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