Murdoch's Newsday Bid Likely To Be OK'd: Attorneys

Law360, New York (April 25, 2008, 12:00 AM EDT) -- Although News Corp.'s reported $580 million bid to take over Tribune Co.'s Newsday will likely draw scrutiny by federal communications and antitrust regulators, the deal will probably be approved in the end, attorneys say.

If News Corp. does extend a formal buyout offer for the Long Island, N.Y., daily newspaper, it will probably need approval from the Federal Communications Commission and either the Department of Justice or the Federal Trade Commission, attorneys said.

The Wall Street Journal reported the possible takeover on Monday.

“To the extent...
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