News Corp Exec Says Company Won’t Bid on Tribune Assets

By: E&P Staff

A top executive from News Corporation, said that, contrary to published reports, the company is not interested in bidding for Tribune Company, or any of its parts, according to a report in Tuesday editions of Newsday.

Peter Chernin, the president and Chief Operating Officer of News Corp., said the company wouldn’t bid for Tribune because his company has “lots of newspapers and television stations” already. News Corp owns the New York Post.

Speaking at a media conference, Chernin is also quoted by Newsday as saying his company would be restricted by Federal Communications Commission cross-ownership rules that limit how many media outlets a company can have in local markets.

There has been speculation that News Corp. may be interested in buying Newsday in order to eliminate a rival of its two weekly newspaper groups in Brooklyn and Queens.

Tribune has extended a strategic review of the company’s properties, and will be considering bids until early next year.

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