Crazy Cablevision (CVC) Paying 2X More Than Newsday Is Worth

From Silicon Alley Insider: The dean of newspaper demise, Alan Mutter, observes that Cablevision’s Dolans (CVC) are actually paying about 2.5 times as much for Newsday as Rupert Murdoch thought it was worth (logic below) and about the same amount as has been paid in recent years for other disastrous newspaper acquisitions.

So this again begs the question: What on earth are the Dolans thinking?

We were asked this question at a speaking engagement last night, and the best answer we could come up with was “an emotional desire to own the neighbourhood paper.” If anyone has any more intelligent explanations, we’d be eager to hear them.

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