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April 29, 2008

Murdoch faces regulator showdown in Newsday purchase

By Patrick

Rupert Murdoch is facing regulatory problems in his $580m (£290m) bid for Long Island-based tabloid newspaper Newsday.

The Financial Times reports that the Federal Communications Commission, the US media watchdog and regulator, could revoke one of News Corps’s New York area TV broadcasting licences under new laws passed last year preventing companies owning too large a share of a media market.

News Corp already owns the New York Post and Wall Street Journal and the Fox TV network, whose application for a new licence is currently being considered by the FCC.

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