Newspapers still worth the bucks
July 30, 2008 · Posted in Uncategorized
Cablevision Sytems completed its purchase of Newsday yesterday, reportedly for $650 million.
In contrast, the Post-Newsweek deal to buy Miami NBC station WTVJ was only $205 million, considerably less than pre-sale estimates. WTVJ was the NBC Universal owned/operated station which built (for mega millions) a new facility a few years ago which handled feeds for many other stations.
Post-Newsweek already owns WPLG in Miami, the #1 station; WTVJ is #6. Consolidation is planned, but TVJ will stay NBC albeit at WPLG’s new facility under construction.
Wonder what Cablevision will do with Newsday?
