The Daily News has been a publication that has lasted for almost a hundred years, but as the company continues to struggle in the current economy, Mortimer Zuckerman, owner of the magazine, is thinking about selling in order for it to start anew.
Zuckerman has owned the company since 1993, and has just recently contacted his employees about the possibility of him stepping down.
In a written statement, Zuckerman expresses that he is not sure what he intends to do, but knows that selling the company may be within the near future.
Zuckerman writes, “Although there were no immediate plans to consider a sale, we thought it would be prudent to explore the possibility. I have not come to this decision easily. The immense hard work in turning the business around in an extremely challenging period for the industry has put the Daily News in as strong a position than it has ever been, particularly online.”
When the sale was first discussed, employees started to resign because of the uncertainty. The resignation was discussed by an employee who did not wish to be named, but also mentioned that there have been staff lay offs due to lack of business and production.
The Daily News was once one of the biggest publications in New York City, but because of its lack of advertising, and its rival paper, The New York Post, it has significantly dwindling in sales over the past few years.
Rumors have currently been speculating that New York Post owner, Rupert Murdoch may be in the works to buy the Daily News, but this has yet to be confirmed.
Photo By: AP Photo/Stephen Chernin, File
