Cablevision's bold plan to purchase Newsday will test as never before the concept – and the economics – of the hyper-consolidation of local media by a single company. Don’t count on it succeeding.

Just before the Senate Commerce Committee is set to vote on a bill that would slow down runaway media consolidation, Rupert Murdoch reminds us why Big Media is bad news.

The announcement that Rupert Murdoch is angling to buy Newsday refutes the claims of the Long Island tabloid's executives, made more than twenty years ago, that the Post was doomed to economic failure. Instead, it is Murdoch and the Post who are humming along, in their fashion, and Newsday that is stumbling. And that should concern anyone who fears or disdains Murdoch's brand of journalism.

Media mogul Rupert Murdoch has expanded his global media empire again with the launch of a new cable business news network. Just months ago, the News Corporation boss launched a successful takeover of the prestigious Wall Street Journal newspaper.

Australian media mogul Rupert Murdoch has reached an agreement to purchase Dow Jones and Company, the parent company of The Wall Street Journal, for $5 billion.