US cable TV firm Cablevision says it is buying US newspaper Newsday for $650m (Ј332m), after Rupert Murdoch's News Corp withdrew its bid.
Cablevision also beat Mort Zuckerman, who owns the New York Daily News.
He had bid $580m, the same as Mr Murdoch.
Newsday is published by the Tribune newspaper group, owner of the Chicago Tribune and Los Angeles Times.
Tribune was seeking to sell Newsday to lighten its $8.2bn debt, which it took on last Ad sales boost News Corp profits ...
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Newsday is the eighth-largest US newspaper, with daily circulation of about 380,000 copies.
According to the terms of the agreement, Cablevision will acquire about 97% of Newsday Media Group, known as Newsday, valued at $632m.
The Tribune Company will also receive $18m at the completion of the deal as prepaid rent under certain leases of property used in the business.
(BBC)
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