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Reports: Murdoch close to deal to acquire ‘Newsday’ from Tribune Co.

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New York—Tribune Co. is nearing an agreement to sell Newsday to Rupert Murdoch’s News Corp. for $580 million, according to reports.

WSJ.com, which is owned by News Corp., reported that “price structure and governance” have been agreed upon between Tribune Co. and News Corp. but said no deal is imminent. Murdoch, who also owns the New York Post, would reportedly keep the two dailies separate. Spokespeople for Newsday and Tribune Co. could not be reached for comment.

Newsday has been in play for the past several weeks. Along with Murdoch, New York Daily News owner Mort Zuckerman and Cablevision Chairman Charles Dolan have been mentioned as possible suitors for Newsday.

—Matthew Schwartz

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