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News Corp to buy Newsday

April 22, 2008 by Veronica Villafañe

The deal would be a “joint venture” and News Corp would be paying $580 million to acquire Newsday.

Reuters is reporting that the Tribune Co has reached an agreement in principle to sell the Long Island newspaper and that both companies are “very close” to a deal.

The joint venture would allow Newsday and News Corp’s money-losing New York Post, to combine back office operations, reducing about $50 million in annual losses for the Post. The deal would allow Tribune to keep a small stake in the company.

Filed Under: TV & Radio Tagged With: News Corp, Newsday

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Veronica Villafañe, Editor & Publisher

Emmy award-winning journalist and former president of the National Association of Hispanic Journalists (NAHJ). Most recently, a reporter for Voice of America, she has worked as an on-air reporter, anchor, writer and producer for Spanish and English-language TV, print and online media, including Univision, Telemundo, Fox 11 News in L.A. and the San Jose Mercury News.

She is also a Hispanic media and entertainment contributor to Forbes.

Full bio here
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