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‘Newsday’ reportedly in play

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New York—Tribune Co.’s Long Island-based Newsday is on the block, according to published reports that cite three possible suitors: Rupert Murdoch’s News Corp., Cablevision and Daily News owner and real estate magnate Mort Zuckerman.

A spokesman for Tribune Co. could not be reached for comment, nor could representatives of News Corp. and Zuckerman. A spokeswoman for Cablevision said the company would not comment on the reports.

A sale of Newsday would help Tribune Co. reduce its debt. On Thursday the company posted a $78 million loss from continuing operations in the fourth quarter compared with a profit of $233 million in the year-earlier period. National advertising revenue fell 11% for the quarter, primarily due to decreases in the transportation, telecom/wireless, technology and health care sectors. These were partially offset by gains in the financial category.

—Matthew Schwartz

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