Wait-What? The Entire New York Daily News Is Worth Less Than Its Newsstand Price?

It’s no secret that New York Daily News owner Mort Zuckerman is desperate to unload his Big Town money pit tabloid, but this is ridiculous (via Capital Playbook):

“Cablevision’s Dolan to bid $1 for Daily News: sources,” by Post’s Keith J. Kelly and Emily Smith: “The bidding for the embattled Daily News is nearing the end of round one, and while a handful of suitors are kicking the tires, owner Mort Zuckerman may be disappointed with some of the offers the old jalopy is attracting. James Dolan, boss of Cablevision, MSG and Newsday, is preparing to bid $1 for the money-losing tabloid … Zuckerman was said to be hoping to fetch somewhere between $150 million and $200 million.” http://bit.ly/1NytGtT

So, just to be clear: The New York Daily News is worth less than one copy of itself?

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The Dolan Dollar Store would represent the worst newspaper beating since the New York Times Corp. offloaded the Boston Globe for $70 million (original purchase price $1.1 billion).

Here’s guessing Mort will take it like a (desperate) man.

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2 Responses to Wait-What? The Entire New York Daily News Is Worth Less Than Its Newsstand Price?

  1. Steve Stein says:

    Makes sense. When you buy an actual copy of The Daily News, you’re just covering printing costs. Or something like that. 🙂

  2. Campaign Outsider says:

    Yeah – something like that, Steve.

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