Tags: billionaire | businessman | purchase | new york | daily | news | newspaper

Billionaire Businessman Catsimatidis May Buy NY Daily News

By    |   Monday, 02 Mar 2015 10:24 PM

Supermarket billionaire John Catsimatidis is the "mystery suitor" negotiating to buy the New York Daily News from longtime owner Mort Zuckerman, the New York Post reported Monday.

Last week, Zuckerman said he had retained the financial advisers Lazard to explore selling the newspaper after having received a buyout overture from what the Post termed "an undisclosed suitor."

The Daily News is thought to have revenues of approximately $175 million a year with losses of between $20 million and $30 million.

The New York Times reported that last week that Catsimidis and Zuckerman had lunch at Casa Lever, an Italian restaurant in Manhattan, to discuss Catsimidis' interest in purchasing the newspaper.

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Supermarket billionaire John Catsimatidis is the "mystery suitor" negotiating to buy the New York Daily News from longtime owner Mort Zuckerman, the New York Post reported Monday.
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2015-24-02
Monday, 02 Mar 2015 10:24 PM
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