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Person close to talks: Cablevision close to getting Newsday

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By SETH SUTEL, AP
11 May 2008 @ 06:05 pm ET

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NEW YORK - A person with knowledge of the situation says cable TV provider Cablevision Systems Corp. is close to buying the Long Island newspaper Newsday from Tribune Co. for $650 million.

Quotes

CVC	28.71	9.13
NWS	9.98	-0.66

The news Sunday comes a day after Rupert Murdoch's News Corp. withdrew its own $580 million bid, despite assurances from Murdoch himself just days earlier that he would prevail.

The person with knowledge of the matter asked to remain anonymous since the talks are confidential. Spokesmen for Tribune and Cablevision declined comment.

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