Thursday, February 26, 2015

New York Daily News Owner Is Considering Selling The Paper

The owner told employees in a memo.


I want to share with you a new development regarding the company.


A few weeks ago, we were approached about our potential interest in

selling the Daily News. Although there were no immediate plans to

consider a sale, we thought it would be prudent to explore the

possibility and talk to potential buyers and/or investors. To help us

with the process, I have retained Lazard, a leading financial advisory

firm.


I have not come to this decision easily. But I believe 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.


I appreciate that this news is difficult for you to digest. But I want

to reassure you that my aim throughout this process will be to do the

right thing for the business to ensure the Daily News and its

brilliant staff have the best opportunity to achieve all our future

ambitions.


Mort






SOURCE: BuzzFeed

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