NEW YORK (CBSNewYork/AP) — Mort Zuckerman, the owner of the New York Daily News, said Thursday that the tabloid is no longer up for sale.
In an internal memo, Zuckerman said that after meeting with “several potential interested and well-intentioned suitors,” he is withdrawing the paper from the market.
The Daily News was founded in 1919. Zuckerman bought it in 1993.
According to the Alliance for Audited Media, the newspaper had an average daily print and digital circulation of 516,165 in March 2013, making it the fifth most circulated paper in the U.S.
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.
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.
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