BREAKING: News Corp. Withdraws Bid For Newsday; Likely Winner Will Be Cablevision

This story was written by Tricia Duryee.
News Corp. has withdrawn its $580 million bid for the Tribune's Newsday, calling it "uneconomical," according to Reuters via The New York Times. The remaining likely bidder for the New York newspaper is cable TV operator Cablevision, which also operates in Long Island.

More to come.

By Tricia Duryee