Losing $20M A Year, NY Daily News On The Block

NY Daily News owner Mort Zuckerman's announcement last week that the tabloid is officially on the market, after 22 years of ownership by the billionaire real estate magnate, has media watchers wondering: Who would want to buy the thing?

According to CapitalNewYork.com, the 96-year-old news organization's finances are tightly held, despite a very public circulation decline and numerous down-sizings that have characterized its most recent era.

But a source close to the News who's been briefed on its current finances told Capital it is believed to be losing around $20 million a year. A spokesman for Zuckerman said he would not comment on financials and that it was premature to talk about a timeline for a potential sale.

While online growth (nydailynews.com has been pulling anywhere between 26 million and nearly 40 million unique monthly visitors over the past year or so, per Comscore numbers) is a positive narrative—one that's put the News in the same orbit as the Daily Mail and other outlets making a big play for America's national advertising dollars—the print edition (which still brings in most of the money) tells a different story.

With readers flocking to computers and mobile devices amid an onslaught of competition from new-media players, average circulation for the six months ending Sept. 30, 2014, was 361,941 on Sundays and 281,907 on weekdays, down from 786,952 and 715,052 during the same period ten years earlier.