The potential purchase of the New York Observer by Robert De Niro and his Tribeca Film Festival group is off.
Via today’s New York Times:
The cheeky pink-papered weekly has been seeking a financial partner for months and has talked to numerous potential buyers; Tribeca Enterprises seemed the most likely to succeed and had all but signed a deal.
But both sides said yesterday that all talks were off and any hopes of a deal were over.
The paper is reportedly losing about $2 million a year.
EARLIER: Observer to De Niro?