27 Feb 2009
Indicative of the downward financial spiral currently gripping the newspaper industry, Cablevision yesterday wrote down the value of Newsday by $402 million. Given the company paid $650 million to buy Newsday and a collection of smaller papers last summer, the company now thinks the properties are worth one-third the purchase price.
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DOLANS MULL FEE AT PAPER - New York Post
Whoops.
