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New York, May 7:: be patient for a couple of days ... We're certainly not in the business of getting into an auction here," he said, adding that Newsday would add about $100 million in annual cash flow to News Corp.
"We're hoping to wrap it up within the next week. We think everything is in hand," he said.
The 77-year-old media tycoon, who built News Corp from a pair of Australian newspapers into a global news and entertainment empire, realized a career-long ambition to buy Wall Street Journal publisher Dow Jones & Co last year.
If the Newsday acquisition is successful, Murdoch envisioned keeping Newsday apart from his other New York region paper, the New York Post, as separate papers that share printing and distribution resources.
"There's a lot we can do together," Murdoch said....
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