New York Observer considers buying Newsday
By Alexandra Zeumer, Wednesday 2 April 2008 at 20:16 :: Media Ownership :: #1482 :: rss
Jared Kushner, owner of the weekly New York Observer, is among those contemplating buying or partnering with Newsday, the Wall Street Journal reported Wednesday.
Kushner, son of real-estate developer Charles Kushner, declined to comment on the report, which was based on “a person familiar with the situation,” according to the article.
Newsday is owned Tribune Co., which posted a US$78.8 million fourth quarter loss last month, as advertising and circulation fell at its newspapers, Reuters reported.
Tribune is hoping to sell Newsday for a minimum of US$500 million. One source told the Journal that News Corp has discussed creating a joint enterprise with Tribune to own Newsday and the Post.
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