News Corp. takes back their offer for Newsday

News Corp. has announced that they have now withdrawn their acquisition offer for Tribune’s Newsday newspaper.

Surprisingly, this announcement comes just days after Rupert Murdoch said that their talks were in advance stage.

They had offered $580 million for the deal.

A company spokesperson said that the deal was becoming too expensive for them.

Murdoch had originally planned to integrate Newsday with his own New York Post operations.

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