Cablevision Newsday Deal Moves Ahead6/25/2008 7:03 AM Eastern
The Federal Trade Commission approved Cablevision System’s purchase of Long Island, N.Y. daily newspaper Newsday from Tribune Co. for $650 million.
Federal regulators issued an early termination of the waiting period required for antitrust approval under the Hart-Scott-Rodino law, the FTC said Tuesday.
Cablevision agreed to purchase a 97% interest in the newspaper in May.
The deal is expected to close in July or August.