Cablevision Thinks the New York Daily News Is Worth $1

Since it's New York, that is really worth about $5.95.

New_York_Daily_News_logo

Cablevision Systems Corp. understands its market — what values are for broadcasting and disseminating the news, why people value the capability to do both, and how that value reflects a nice return on investment.

So, when Reuters reported that Cablevision was considering making a value-based bid on the beleaguered and barraged New York Daily News, investors and publishers alike took notice.

And then they probably shot coffee through their hairy nostrils because of laughter. Why? One dollar. 

Cablevision’s $1 bid takes into account the New York Daily News‘ reported $30 million annual loss and $150 million investment in a printing press, and declining circulation that relies heavily on newsstand sales rather than on subscriptions, the source said.

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