• The Associated Press, Tuesday, October 14, 2008 9:15 AM

Long Island daily Newsday has been losing money for at least three years, but turned a profit in the first half of 2008 because of a one-time tax change, says new owner Cablevision in a regulatory filing. The SEC document offers a rare peek into a newspaper's finances.

Cablevision says Newsday lost $80.8 million in 2007, down from $282 million in 2006 and $414 million in 2005. Advertising and circulation revenue fell each year, but the newspaper managed to cut expenses, including chopping 330 positions during those three years combined and more than 200 this year.

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