NEW YORK - Cablevision Systems Corp. says it is buying Long Island newspaper Newsday from Tribune Co. for $650 million.

Cablevision beat out media mogul Rupert Murdoch's News Corp., which withdrew a $580-million bid on Saturday. New York Daily News owner Mortimer Zuckerman had also bid $580 million.

The deal announced Monday brings Newsday back to ownership on Long Island.

Tribune had been seeking to sell Newsday to lighten an $8.2-billion debt load it took on last year when it went private.

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