Post by The Ultimate Nullifier on Apr 2, 2015 10:43:48 GMT -6
variety.com/2015/film/news/cablevision-1-offer-daily-news-report-1201463327/
Cablevision, the parent company of New York’s Newsday daily newspaper, is considering making a $1 offer for the New York Daily News.
Daily News owner Mortimer Zuckerman told staff in February that he was exploring a sale of the money-losing tabloid and had tapped financial firm Lazard as an advisor.
Reuters, which broke the news of a possible bid, reports that the low offer takes into account the paper’s declining circulation numbers, as well as its $30 million in losses annually and the $150 million it invested in a printing press.
Cablevision declined to comment on the report. A spokesperson for the Daily News did not immediately return a request for comment.
Cablevision is one of the country’s largest cable providers, with a strong presence in the areas surrounding New York City.
The Daily News has weekday circulation of 427,452 and a Sunday readership of 558,057.
Cablevision, the parent company of New York’s Newsday daily newspaper, is considering making a $1 offer for the New York Daily News.
Daily News owner Mortimer Zuckerman told staff in February that he was exploring a sale of the money-losing tabloid and had tapped financial firm Lazard as an advisor.
Reuters, which broke the news of a possible bid, reports that the low offer takes into account the paper’s declining circulation numbers, as well as its $30 million in losses annually and the $150 million it invested in a printing press.
Cablevision declined to comment on the report. A spokesperson for the Daily News did not immediately return a request for comment.
Cablevision is one of the country’s largest cable providers, with a strong presence in the areas surrounding New York City.
The Daily News has weekday circulation of 427,452 and a Sunday readership of 558,057.