New York Observer owner may bid for Newsday: report
April 2nd, 2008 | by admin |NEW YORK (Reuters) - Jared Kushner, owner of the weekly New York Observer, is among those considering buying or entering a partnership with Newsday, the Wall Street Journal reported on Wednesday, citing a source familiar with the matter.
Kushner would join a group of potential suitors for the Long Island daily that includes Rupert Murdoch’s News Corp (NWSa.N: Quote, Profile, Research), which owns the New York Post and Wall Street Journal, plus New York Daily News owner Mortimer Zuckerman and Cablevision Systems Corp (CVC.N: Quote, Profile, Research), the Journal said, citing people familiar with the matter.
Newsday is owned by debt-laden Tribune Co, which posted a $78.8 million fourth-quarter loss last month as advertising and circulation dropped at its newspapers.
Tribune representatives could not immediately be reached for comment.
Tribune, which went private in a buyout last year led by real estate tycoon Sam Zell, is hoping to sell Newsday for at least $500 million, sources told the Journal.
One source told the Journal that News Corp had discussed creating a joint venture with Tribune to own Newsday and the Post. News Corp representatives were not immediately available for comment.
(Reporting by Justin Grant; Editing by Alan Raybould)
