The sale of The New York Daily News is not going well. The May 18 deadline set by Mort Zuckerman passed without a single offer being made.
John Catsimatidis, the frontrunner from the beginning, told The New York Post he still plans to make a bid, but “The deal has to be good for all sides.”
That, apparently, is the sticking point for those interested in the paper. Zuckerman seems to think the Daily News—which hemorrhages between $20 and $30 million a year—is quite valuable. “Everyone thinks they have Park Place,” a source told the Post. “Sometimes you have Baltic Avenue.”
Oh damn. When someone drops a Baltic Ave. reference you know things are bad.