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Rupert Murdoch won't be adding Newsday to his list of New York media properties.
His company, News Corp.(NWS Quote), has withdrawn its bid to purchase the Long Island newspaper, according to published media reports quoting a News Corp. spokeswoman.
The decision comes just a few days after Murdoch had voiced confidence that his company would be able to close the deal, an AP report noted.
News Corp. was offering about $580 million for Newsday but faced competition from Cablevision(CVC Quote) and Mortimer Zuckerman, who owns the New York Daily News, the report noted. Cablevision has reportedly offered to pay $650 million for Newsday. ...
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