As you probably all know, Rupert Murdoch appears to be close to buying Newsday
from Tribune and its new owner, Sam Zell, for $580 million. Newsday
is the 400,000-circulation newspaper that dominates Long Island, New York, a major suburban market of New York City.
Is Murdoch nuts? What is he doing buying a big old "ink on dead trees" business for so much money, when the future is all about the Internet and Web 2.0 sites like his own MySpace, which are wrecking the future for newspapers like Newsday and its brethren?