The New York Daily News loses about $30 million a year, yet there are four parties interested in buying the paper from Mort Zuckerman. It must be weird/fun to be a person who is intrigued by a property that hemorrhages cash.
Everyone knows about James Dolan and Cablevision’s infamous one dollar offer. That deal, according to The New York Post, wasn’t as bad as it sounded. It also had Dolan signing up to keep the Daily News printing at Zuckerman’s printing press in New Jersey.
Media entrepreneur Jimmy Finkelstein and super market magnate John Catsimatidis—who was considered the front-runner a few weeks ago—are also interested in buying the Daily News.
As for the fourth person? No one knows. The Post has a source describing him or her only as a “high net-worth individual.” Which, when you consider that they’re going to buy a paper that loses millions per year, they better be.
Update (1:12 pm):
A Cablevision spokesperson emailed us to say that its bid includes the printing presses; there is no additional contract. “The report in this morning’s New York Post regarding Cablevision offering a ‘long-term contract’ relating to the Daily News printing presses is categorically false. Any Cablevision bid includes the newspaper itself and the presses.”