Rupert Murdoch's News Corp. recently partnered with the Chandler family in an effort to buy the Tribune Co. media empire. This partnership allows News Corp. to circumvent FCC restrictions on one company owning a newspaper and television station in the same market.

Murdoch seeks to use the dual ownership to target Newsday, a Tribune Co. paper. The business operations of Newsday and the New York Post will be combined, saving money for both papers.

Since Newsday reaches Long Island suburban audiences, News Corp. will be able to sell advertising at all price levels, including lower "community-paper" rates.

News Corp's influence on New York media has gradually expanded. Last September the company purchased two NY papers with a total circulation of around 250,000. News Corp. additionally owns the New York Post and two television stations thanks to an FCC waiver.

Why would the FCC grant News Corp. a waiver?

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The FCC renewed Murdoch's TV/newspaper cross ownership waiver on the grounds of economic necessity, given what the Commission described as New York's very competitive newspaper market. I've got a story about the waiver here.