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| Economy |
| Mort Zuckerman exploring sale of Daily News |
| 2015-02-27 |
| [CAPITALNEWYORK] Daily News owner Mort Zuckerman is exploring a sale of the tabloid and has retained the firm Lazard to assist in the process. In a Thursday email to staff, Zuckerman said he hadn't been considering an imminent sale of the paper, which he acquired in 1993, but that his thinking changed after receiving an approach several weeks ago. "I have not come to this decision easily," Zuckerman wrote. "But I believe the immense hard work in turning the business around in an extremely challenging period for the industry, has put the Daily News in as strong a position than it has ever been, particularly online." The News, as with many print publications, has suffered steep print circulation and advertising declines in recent years. As a result, there have been repeated downsizings and layoffs. Just a few weeks ago, the News announced that it would be shuttering its bureaus in the outer boroughs, a move that will save them money on real estate. |
| Posted by:Fred |