New York Daily News No Longer for Sale, Zuckerman SaysGerry Smith
The New York Daily News is no longer for sale, its publisher and billionaire owner, Mort Zuckerman, said in a memo to staff.
In February, Zuckerman said he was exploring a sale of the tabloid newspaper after being contacted by potential buyers.
But on Thursday, he told employees that after meeting with several potential buyers, “for a variety of reasons, I have decided to withdraw the Daily News from the market and have instructed our financial advisors to inform the suitors.”
“As I have repeatedly expressed, I have always believed that the Daily News, with its powerful influence in New York City and growing digital operation, is a business with enormous potential,” he wrote.
He added that “the media landscape is challenging and fast-moving.”
Like many other print newspapers, the Daily News has suffered from circulation and advertising declines as readers move online, where ad prices are much cheaper.
“We have further sharpened our focus on how best to move the business forward in this new digital era,” he said.
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