Cablevision near deal to buy Newsday: report
NEW YORK (Reuters) – Tribune Co is close to a deal to sell Newsday to Cablevision Systems Corp for $650 million, the Long Island paper reported on its website on Sunday, citing people familiar with the negotiations.
The report comes a day after Rupert Murdoch’s News Corp said it was backing out of its $580 million bid for Newsday. The paper said a deal could be announced as early as Monday.
A Tribune spokesman declined to comment. Cablevision was not immediately available for comment and the company’s outside adviser on the deal declined to comment.
It is unknown whether New York Daily News owner Mortimer Zuckerman, who also bid $580 million for Newsday, plans a last-minute higher bid. A Daily News official had no comment.
(Reporting by Robert MacMillan, Yinka Adegoke and Kenneth Li; Editing by Maureen Bavdek)
FSA to Regulate All Sales of Travel Insurance
From January 1, 2009 some major changes will take place in the way Travel Insurance is sold. Companies which are solely in business to sell travel insurance (known as stand-alone companies) have been regulated by the Financial Services Authority (FSA) since 2005 and will not be affected.
The change will hit the companies that have been selling travel insurance as an element of a holiday package, such as travel agents, tour operators, coach companies, and airlines. Although these travel companies may already be regulated as far as selling their other travel products, there has been a double standard regarding the sale of travel insurance. In other words, the stand-alone companies have been required to be FSA regulated in order to sell travel insurance, while those selling travel insurance as part of a travel package have not. Non-regulated travel insurance has also been widely available at retail stores, supermarkets, chemists and through the Post Office. It has also been offered alongside other insurance products such as house insurance or when opening a bank account, or as part of an employee benefit package. Read the rest of this entry »
Do You Need Mortgage Payoff Insurance?
The world of insurance is a complicated one. It sometimes seems impossible to know when a policy is a wise investment or a total rip-off. When it comes to insuring a mortgage with a mortgage payoff policy it gets very complicated because there are so many different policies around.
Is it better to buy an insurance policy from a lender or from an insurance company? Should you have an accidental death policy? Or would a decreasing term insurance be best? This article will examine the two most popular types of mortgage payoff policies and shine some light on the subject of taking out an insurance policy that will pay off your mortgage in the case of a tragic event. Read the rest of this entry »
