NEWSPAPERS: Let's Make a Deal, Maybe

Has Rupert Murdoch finally found someone to buy the New York Post, his money- gulping tabloid? Murdoch doesn't want to part with the 187-year-old Post but is under pressure to do so as early as next month, or be in violation of a federal law barring ownership of both a newspaper and a TV station in the same city. Last week the media mogul was on the brink of selling the daily for about $40 million to Manhattan Developer Peter Kalikow. The agreement leaves so many escape hatches, however, that the outcome is far from certain. Kalikow can walk away from the deal if the Post's unions balk at the wage concessions he plans to demand. Murdoch has the right to back out if he overturns the cross-ownership ban in court or if he gets a better offer.