Cabelvision Joins Bidding for Newsday

Cablevision entered the auction for the Long Island newspaper Newday with a $650 million bid, competing against Rupert Murdoch and Mortimer Zuckerman, each of whom has bid $580 million.  The latter two have also agreed to structure the deal so that the Tribune, parent of Newsday, can avoid taxes on the deal.  NYTimes, Cablevision Set to Raise the Stakes in Newsday Bidding