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Entries tagged "Newsday"Verizon's dollars no good at NewsdayDespite acquiring Newsday for another advertising stream, Cablevision shut out competitor Verizon from advertising in the daily. Cablevision, Newsday shut out Tennis ChannelNewsday bans an ad from the Tennis Channel that criticizes parent company Cablevision. Cablevision may charge for Newsday.comDuring Cablevision's (NYSE:CVC) earnings conference call, a new business model surfaced for recently acquired Long Island newspaper, Newsday. Winning Cubs bring more value to ZellWith the problems facing traditional media such as newspapers and broadcasting, it is an understatement to say that Sam Zell picked a challenging time to lead Tribune Co. into a debt-heavy privatization. Zell's timing is a little more fortunate on another matter, however: the sale of the Chicago Cubs baseball team and Wrigley Field. The Cubs lead the National League's Central division, have the most wins in Major League Baseball and are piling up cash. ... Tribune writes down Times Mirror buyAsset sales and other maneuvering have made the balance sheet of Sam Zell's Tribune Co. more manageable, the Chicago publisher said Wednesday. However, the newly private company has also had dark reflections on deals past in its report for the second quarter. ... Dealwatch: TribuneSam Zell's first deal since taking Tribune Co. private in an $8.2 billion deal in December, came May 12 -- the sale of Long Island, N.Y., paper Newsday, to Cablevision Systems Corp. for $650 million. Terms of the partnership call for Tribune to hang on to a 3% stake in the target. Meanwhile, the offering memorandum on the Chicago Cubs goes out the second week of June. ... Just In: Advisers in Cablevision's acquisition of NewsdayCablevision Systems Corp. agreed to acquire a 97% stake in Newsday Media Group from the Tribune Co. for $650 million. Here are some highlights of the deal: Cablevision hired investment bankers Stefan Selig, James McVeigh, Scott Seaton and Richard Casavechia of Banc of America Securities LLC and also bankers from Merrill Lynch & Co. The law firms working on behalf of Cablevision were Hughes Hubbard & Reed LLP and Sullivan & Cromwell LLP. The target hired Christina Moore of Citigroup Global Markets Inc. as its investment banker. Law firms McDermott Will & Emery, Sidley Austin LLP and Janofsky & Walker... Some rationale for Cablevision's Newsday bidFollowing Rupert Murdoch's withdrawal from the Newsday Media Group auction, The New York Times reported Sunday that Wall Street was baffled as to why Cablevision System Corp.'s founding Dolan family would want to buy a newspaper. While the Times couldn't find an analyst who could offer a rationale for the deal, The Deal's senior writer Richard Morgan was able to drum up a few.... Media and telecom sectors shine with rest of marketThe media and telecom sectors saw some new dealmaking developments that raised market interest Monday. Overall, the broader markets were surging partly on the decrease of the price of oil, raising hopes that U.S. consumers will have more discretionary income. The Dow was up 94.28, or .71%, to 12,836.74, and the Nasdaq was up 29.05, or 1.19%, to 2474.57 in Monday midday trading. ... Deal Digest: May 12, 2008Stay tuned to TheDeal.com for updates to these stories and more. EnCana Corp.EnCana, Canada's leading energy company, kicked off the early-week deal news with an announcement Sunday that it will split into independent oil and gas companies in an effort to unlock the value of its two main businesses. ... Cablevision buys Newsday for $650MCablevision Systems Corp. clinched a deal to buy 97% of Long Island New York daily newspaper Newsday Media Group for $650 million, after Rupert Murdoch's News Corp. pulled its competing $580 million bid on Sunday. ... Dealwatch: Cablevision SystemsCablevision Systems Corp. agreed May 12 to a $650 million deal for Tribune Co.'s Long Island, N.Y. newspaper Newsday, having defeated a $580 million bid by News Corp.'s Rupert Murdoch and marking the cabler's second deal in a week. ... Top tagsYou have executed a tag search on Dealscape. On the left,you will find a comprehensive list of stories tagged "Newsday." Below are the most-popular tags for Dealscape. On the right of the page you will find a search box to dig deeper into our content.
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