New York Daily News Loses $20 Million a Year
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The hot media story of the moment is that New York Daily News owner Mort Zuckerman is considering selling the tabloid. The logical question that emerges out of that is who in their right mind would want to buy it? Especially considering Capital New York’s report that the Daily News loses about $20 million a year.
The first person that comes to mind is Rupert Murdoch, if only because there were rumors of a New York Post/Daily News merger a few months ago. Another potential buyer could be Cablevision. Or there’s always the old fall back — Michael Bloomberg.
FishbowlNY’s take? We don’t see anyone or any company buying the Daily News. It just doesn’t make any sense. It loses way too much money and there’s really no answer for that. There simply aren’t pockets deep enough to dig it out of a hole that has no bottom.
The most likely scenario is that Zuckerman retains the paper for another year or two before deciding to shutter the print version. The potential sale story is fun for now, but it in reality it’s the Daily News’ last rites.
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