Offering to outspend Rupert Murdoch and Mort Zuckerman by $70 million to acquire Newsday from Tribune Co., Cablevision Systems Corp (NYSE: CVC). has formally bid $650 million, according to the paper's sources. The two publishers were being given the chance to up their matching $580 million bids, but AP is reporting now that News Corp (NYSE: NWS) will not go higher. No word yet on Zuckerman. Meanwhile, Cablevision is declining comment. More to come.
By Staci D. Kramer