To the surprise of no one, the newly private Tribune Co. is probably going to sell Newsday. The once-venerable New York paper, like all metro dailies, has fallen on hard times and Tribune's new CEO and owner Sam Zell has got a mountain of debt to pay down.

According to The Wall Street Journal . Long Island-based Cablevision Systems Corp. (NYSE: CVC) and New York's Daily News as potential buyers. Rupert Murdoch probably would love to buy Newsday and combine it with News Corp's (NYSE: NWS) New York Post, but I am not sure whether the antitrust regulators would allow it. He is trying to merge everything but the editorial staffs of the Post -- never a hugely profitable enterprise -- with Newsday to save money in a joint operating agreement, the Journal says.

After spending $5 billion for Dow Jones, Murdoch needs to pick all of the low-hanging fruit he can. I expect this deal to happen. Maybe it will lead to others for papers that buyers are eager to unload. Perhaps, Murdoch might buy other Tribune papers from Zell such as The Baltimore Sun or Los Angeles Times. As the Australian tycoon showed in chasing Dow Jones, influence matters as much to him as profits. Gaining more big papers furthers that goal at the expense of shareholders.

Fitness apparel maker Under Armour Inc (NYSE: UA) has had an amazing run so far, but the question now being asked is whether or not that run is over -- and it looks like 37% of investors believe it just might be.

Here's a quick history lesson on Under Armour. The stock went public in November of 2005 and traded at about $25. Since then the stock has steadily climbed to its current price of $64.38, or a gain of about 155%. Wow.

However, Under Armour is now at a point where investors are having a tough time believing this bullish run will continue. The Baltimore Sun highlighted the dilemma in this morning's paper, pointing out that 37% of UA's stock is owned by short sellers -- good enough to make Under Armour the 25th largest short sold company on the New York Stock Exchange.

The 37% of doubters seem to have an awfully good point here, at least at this price point (I'd hate to think of the price points that some of them got in at). Retailers reported disappointing sales for the month of July, another sign of the weakening consumer and overall economy, amid the market's current volatility. It's just not advisable to be long a stock like Under Armour right now, not with such a large red flag being raised.

Have billionaires Eli Broad, Ron Burkle and Sam Zell run out of ways to spend their money? Maybe this explains their bidding war for Tribune Co. (NYSE:TRB).

Last night, Broad and Burkle said they would pay $34 per share for the Chicago-based media company, $1 more per share than an offer Tribune was on the verge of accepting from Zell. Both deals would be financed through employee stock ownership programs, according to the Los Angeles Times.

Broad and Burkle will invest $500 million in Tribune, more than the $300 million Zell reportedly offered, the paper said.

Money, though, isn't going to solve Tribune's problems.

Big city metros such as The Los Angeles Times are particularly vulnerable to competition from the Internet and smaller local papers. Tribune's largest paper also has had turmoil in its management ranks that reportedly has hurt morale in the newsroom. The other big Tribune papers like Newsday, The Baltimore Sun and the Chicago Tribune have similar problems.

Zell said he plans to keep Tribune intact. I don't think Burkle and Broad have made a similar pledge. Regardless, the Chicago Cubs are probably going to get a new owner at some point in the not-too-distant future.

These wannabe press lords may regret having their wish come true.

With all of the hubbub surrounding Tribune Co. (NYSE:TRB), you would think that the company was some red-hot startup that throngs of companies were eager to buy. Of course, nothing could be further from the truth.

Sam Zell has emerged as an unlikely suitor for the Chicago-based media company. He's made his fortune in real estate and has no experience in the media though he reportedly told the Chicago Tribune that newspapers were just like any other business.

Zell, who earned the nickname grave dancer for his ability to spot undervalued companies, is right to a point. Media companies need to sell a product that people want at a price that they will buy. There is a big point that eludes Zell and the other guys who are interested in the newspaper business.

Good news organizations will anger their major customers -- advertisers -- from time to time. If Zell is successful, he will be besieged by people looking to influence the editorial direction of the Los Angeles Times, Chicago Tribune and Newsday. He has to ignore all of it.

Believe it or not advertisers -- the ones who aren't angry -- want to be seen in credible news outlets because it lends legimimacy to their brands. If a media outlet isn't credible, big advertisers avoid it. Check out one of the supermarket tabloids and you'll see what I'm talking about.