On and on has gone the speculation over the possible sale of Newsday by Sam Zell's Tribune. Now the hottest property, speculation-wise, seems to be Cablevision.
Fortune's Devin Leonard weighs in with the latest, writing about "Seeking method in Cablevision's madness." After reasoning through, and seriously discounting, Cablevision's reasons and potential benefits in taking over Newsday, Leonard makes a sharp (or sly) turn and says:
"Given this history, Cablevision's bid for Newsday makes sense in a perverse way. The cable operator will almost surely make the same sort of tenuous arguments that it has made in the past. This is the same company that tried to justify the purchase of the now-shuttered Wiz chain by saying it could use to the retail outlet to push its premium television shows and sell tickets to events at Madison Square Garden."
--Noel Rubinton