Cablevision's Newsday Acquisition Gets Antitrust Clearance

This story was written by Joseph Weisenthal.
Cablevision (NYSE: CVC) has received the green light from the FTC for its acquisition of Long Island newspaper Newsday, according to Reuters. This wasn't expected to be a major hurdle, but antitrust issues came up a lot during the bidding. When Rupert Murdoch's News Corp (NYSE: NWS) was seen as the likely winner, the fact that it already owned two New York papers was expected to be an issue. Mort Zuckerman's New York Daily News might have had problems because its profitability diminished claims that it needed cost synergies. Cablevision sidesteps these issues because it's not in the newspaper business, and apparently authorities weren't worried about one company having control of both cable assets and a major newspaper in the same region.


By Joseph Weisenthal
  • CBSNews

Comments

CBSN Live

pop-out
Live Video

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.