Steve Witkoff Negotiating Daily News Deal

The talks keep going and going and going.

Real estate mogul Steve Witkoff is the new frontrunner to buy The New York Daily News. According to The New York Post, Witkoff is currently negotiating with the tabloid’s unions for concessions.

Witkoff is the only person interested in the Daily News who has been willing to sign a multi-year deal with the unions. However, Witkoff has not submitted a formal bid, like John Catsimatidis and Jimmy Finkelstein did.

It turns out selling a newspaper that loses about $20 million per year is tougher than it seems.

Publish date: June 16, 2015 © 2020 Adweek, LLC. - All Rights Reserved and NOT FOR REPRINT