Posted AT 3:45 PM EDT on 10/05/08
News Corp. withdraws bid to buy Newsday
NEW YORK — News Corp., the media conglomerate controlled by Rupert Murdoch, has withdrawn its bid to purchase the Long Island daily paper Newsday, a News Corp. spokeswoman said Saturday.
The decision to revoke the offer came just days after Mr. Murdoch confidently predicted he would clinch a deal to buy the newspaper within a week.
News Corp. had offered about $580-million (U.S.
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