Daily News owner Mort Zuckerman has called off the sale of the nearly 100-year-old New York newspaper. “For a variety of reasons, I have decided to withdraw the Daily News from the market,” Zuckerman writes in a memo to staffers obtained by FishbowlNY.
Zuckerman, who has owned the paper since 1993, began looking at selling the tabloid in February. The Daily News, founded in 1919, is the 5th largest daily newspaper in the U.S. with its combined print and digital footprint.
Here’s Zuckerman’s memo:
As you know, several months ago I announced exploring the sale of the Daily News. I have met with several potential interested and well-intentioned suitors during this process. For a variety of reasons, I have decided to withdraw the Daily News from the market and have instructed our financial advisors to inform the suitors.
As I have repeatedly expressed, I have always believed that the Daily News, with its powerful influence in New York City and growing digital operation, is a business with enormous potential.
Moving forward, you all know that the media landscape is challenging and fast-moving. The national and local digital footprint that you have established is extremely impressive and will play an ever-increasing part in our future business development plans. We have further sharpened our focus on how best to move the business forward in this new digital era.
I believe in the Daily News, and with our outstanding and creative executive and editorial teams, we have the leadership, drive and energy to realize the ambitions of this great New York City institution.