April 2 (Bloomberg) -- News Corp. Chairman Rupert Murdoch said a purchase of the Long Island newspaper Newsday would give his New York Post a ``more secure future'' and help compete with the New York Times for advertising.

The Post is ``a very lively, very influential, very intelligent newspaper in New York but all the revenue goes to the Times,'' Murdoch said today in a speech to students at Georgetown University. He called Newsday, owned by Tribune Co., ``an economic consideration'' and said he wasn't sure if News Corp. would end up getting the newspaper.

Murdoch, along with Mortimer Zuckerman of the New York Daily News and Cablevision Systems Corp. Chief Executive Officer James Dolan, is considering buying Newsday, the Times reported last month. Jared Kushner, owner of the New York Observer, may also bid, the Wall Street Journal reported today. Tribune wants at least $500 million for the newspaper, the Journal said.

Separately, Murdoch, 77, reiterated he isn't going to challenge Microsoft Corp.'s $44.6 billion bid to take over Yahoo! Inc. because News Corp. doesn't have as much money as Microsoft Chairman Bill Gates.

News Corp. purchased Dow Jones & Co. for $5.2 billion last year, gaining control of the Wall Street Journal.

Bloomberg LP, the parent of Bloomberg News, competes with News Corp. in providing financial news and information.

News Corp. Class A shares, which have fallen 4.4 percent this year, were unchanged at $19.59 as of 4:03 p.m. in New York Stock Exchange composite trading.

To contact the reporter on this story: Gillian Wee in Washington at gwee3@bloomberg.net.

Last Updated: April 2, 2008 16:06 EDT