BETHPAGE, NY: Cablevision Systems, which agreed to purchase Newsday from the Tribune Co. on May 12, is working with Sloane & Co. and Sard Verbinnen & Co. for PR related to the acquisition, the three parties told PRWeek.
The paper's internal PR staff is communicating the details of the agreement to employees, said a Newsday spokesperson, who added that the outlet will further its PR strategy once the deal clears regulatory hurdles and is near completion. Newsday's PR staff is not expected to be cut as a result of the acquisition, the source added.
A team of six Sard staffers, including chairman and CEO George Sard and MDs Paul Caminiti and Hugh Burns, will work on the task, according to an agency source.
Sard previously represented the Dolan Family Group in its failed 2007 effort to take the company private for $10.6 billion.
A Cablevision spokesperson declined comment beyond saying the company is working with the firms. A Sloane rep confirmed the relationship, but didn't elaborate.
Cablevision's $650 million offer, which gives the company 97% of Newsday's equity, outbid $580 million offers from News Corp. and Mortimer Zuckerman, owner of the New York Daily News. The deal also gave Cablevision control of free daily amNY, Newsday Interactive, Star Community Publishing, and Island Communications.