News Corp. and Cablevision Systems are among the bidders looking to buy New York daily Newsday from Tribune. News of the potential sale came as the struggling Chicago-based Tribune announced dismal earnings.
Murdoch is said to be considering a joint venture with the Long Island, N.Y.-based daily, which already distributes News Corp.’s New York Post on Long Island. Cablevision, which is also based on Long Island, is said to be in talks for a complete acquisition.
Tribune, which went private last year in an $8.2 billion buyout by real-estate mogul Sam Zell, reported 2007 earnings Thursday that showed a loss of $78 million in the fourth quarter and a sharp drop in full-year income to $55 million compared to $661 million in 2006.