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Jared Kushner Interested in Purchasing Newsday
Source: finditt.com
Posted on: April 3, 2008 05:53 MST
Filed under: Celebs

Jared Kushner

Jared Kushner, the owner of the New York Observer, has expressed interest in purchasing or entering into a partnership with Newsday.

Kushner, son of wealthy real-estate developer Charles Kushner, has declined to comment. Kushner is a principal in Kushner Co., the real-estate company founded by his father.

The Tribune Co., owned and operated by Sam Zell, has also declined to comment on their list of bidders. Zell, the real estate magnate, is reportedly selling Newsday for $500 million.

Previous reports say Rupert Murdoch and his News Corp., which owns the New York Post and The Wall Street Journal, as well as New York Daily News owner Mortimer Zuckerman and Long Island Cablevision Systems Corp. are also potential bidders to buy Newsday from Tribune.

The Tribune Co. is suffering a $12.8-billion debt due Zell's purchase of the company. Zell purchased the company in a leveraged buyout in December and took Tribune private.

Zell has placed the Chicago Cubs and its storied stadium Wrigley Field on the sales block, and has considered the sale of the Los Angeles Times, Chicago Tribune, Baltimore Sun and television stations owned by the company.

The Tribune posted a $78.8-million loss last quarter.

In Kushner's personal life, it was reported recently that he has broken up with girlfriend and fellow real estate mini-mogul Ivanka Trump, the daughter of Donald Trump. Kushner and Trump had been dating for months.

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