New York Daily News owner Mort Zuckerman has canceled a bid to sell the paper, several months after putting the tabloid daily on the block.
"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," he said in a memo expressing support for the publication's future.
Earlier reports said Zuckerman wanted well north of $100M for the News, despite red ink of as much as $20M per year. Circulation is around 440K.
Supermarket titan and former mayoral candidate John Catsimatidis was among reported bidders, as well as The Hill publisher Jimmy Finkelstein.
Zuckerman bought the News in 1993 out of bankruptcy.
"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," wrote Zuckerman.
Trump Media & Technology Group today reported a $58.2M net loss on $4.1M in 2023 revenues, a disclosure that drove its stock price down 22.6 percent to $47.96.
Barry Pollack, an attorney at Wall Street’s Harris St. Laurent & Wechsler, has registered Julian Assange as a client with the Justice Dept. “out of an abundance of caution.”
Paramount Global to slash 800 jobs in what chief executive Bob Bakish calls part of an effort to “return the company to earnings growth"... Rolling Stone editor-in-chief Noah Shachtman is exiting at the end of the month due to disagreements with chief executive Gus Wenner over the direction the magazine is taking... The New York Times broke the $1 billion barrier in annual revenue from digital subscriptions in 2023... Press Forward is investing more than $500 million to strengthen local newsrooms.
The majority of news articles are read within the first three days of publication, according to a recent report.
The Los Angeles Times gives pink slips to 115 people or 20 percent of its newsroom staff... TIME is also laying off about 30 employees, which is approximately 15 percent of its editorial staff... The Baltimore Banner, which was launched by Stewart Bainum in 2022 after he failed to buy the Baltimore Sun, added 500 subscribers per day in the three days following Sinclair Broadcast Group's deal to purchase the Sun.
Have a comment? Send it to 
No comments have been submitted for this story yet.