22 Apr. 2008

First We Take Manhattan...

News Corp closes in on another NYC asset:
For Murdoch, gaining Newsday would allow News Corp to greatly pare down persistent losses at the New York Post, partly by combining back-office and production operations...

Any deal for Newsday would be sure to face close regulatory scrutiny since Murdoch's News Corp already owns the New York Post, the [Wall Street] Journal and two New York-area television stations.
Don't worry, I'm sure the Bush administration would never let him get away with it. Right?

UPDATE: So much for all that talk about the new Murdoch WSJ maintaining it's independence:
"It was reassuring that he was there because he was not a News Corp. guy," Yount said Tuesday... Yount did not place much faith in its having an impact on Brauchli's replacement. He said no one should expect anything other than a Rupert Murdoch selection: "I don't think anyone seriously believes that Rupert was not going to run Dow Jones and run the Wall Street Journal. Anyone who thinks there was any chance that this would not happen is mistaken."