Press: Extra: Post Saved!

The showdown had all the breathless drama that readers of the tabloid New York $ Post (circ. 480,000) have come to expect. Australian-born Media Baron Rupert Murdoch, selling the Post to comply with a federal ban on owning a newspaper and broadcast station in the same city, had threatened to shut down the paper unless unions agreed to $24 million in cost reductions. Murdoch said he needed the cuts to complete the sale of the paper to New York Real Estate Developer Peter Kalikow for $37 million.

But as a 2 p.m. Friday deadline neared, the Post and its unions remained...

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