Owner of New York tabloid says it's off the market

AP News
Posted: Aug 20, 2015 4:24 PM
Owner of New York tabloid says it's off the market

NEW YORK (AP) — Mort Zuckerman, the owner of the New York Daily News, says the tabloid is no longer up for sale.

In an internal memo that was sent Thursday to The Associated Press, Zuckerman says that after meeting with "several potential interested and well-intentioned suitors," he's withdrawing the paper from the market. He had said in February that he had been approached by a potential buyer.

The newspaper industry has been hit with declines in print circulation and ad revenue as media websites, including those without a print business, gain readers. Online ad sales have increased for newspaper companies, but not enough to offset the decline in print revenue, according to a Pew Research Center report.

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The Daily News has in recent years beefed up its website with a focus on national and celebrity news, and Zuckerman says the digital arm of the Daily News will be increasingly important.