Poor Mort Zuckerman. The New York Daily News boss has been trying to get someone to buy his paper for about five months now, and no one seems particularly interested. This is what happens when you propose that someone take on a business that loses between $20 and $30 million a year.
Over the past few months, John Catsimatidis, Jimmy Finkelstein and Steve Witkoff were all rumored to have bid for the paper. Witkoff was even negotiating with the Daily News’ unions.
However, the New York Post reports that Witkoff’s interest has waned and now Zuckerman will likely have to accept a lowball offer from Catsimatidis, because he’s the only one who actually might want the paper. The newspaper business is not fun.