Cablevision’s Acquisition of Newsday Complete

By Jon Lafayette

Cablevision Systems has completed its acquisition of 97% of Newsday Media Group, giving the company a print and online group to go with its cable operations and networks, the company said Tuesday.

Cablevision said Newsday publisher Tim Knight will continue to oversee the paper and its other properties. He reports to Cablevision Chief Operating Officer Tom Rutledge.

“Adding Newsday to the Cablevision family will combine powerful newsgathering capabilities with industry-leading electronic distribution. We believe this presents great opportunities for us to build our subscription-based businesses,” Mr. Rutledge said in a statement. “This marriage of content and technology will also strengthen Newsday’s role as the connecting point between readers and the events, businesses and neighbors around them.”

Cablevision said it expects to begin using its cable systems to run Newsday advertisements that highlight the strength of the paper’s news, content and advertising. Through its interactive advertising capabilities on cable and the Web, Cablevision will solicit subscriptions for the newspaper.

Other collaborations and initiatives are expected in the coming months, Cablevision said.

The transaction was accomplished through the formation of a new partnership with Tribune Co., the previous owner and operator of Newsday, which operates in the heart of Cablevision’s cable footprint on New York’s Long Island.