Declining circulation and plunging advertising revenue have plagued the tabloid for years, Reuters reports, and despite cable distributors facing industry problems of their own, Cablevision will reportedly still be able to make an offer on the New York Daily News with the whopping bid price of one dollar.
According to Reuters, Cablevision Systems Corp. could make the offer as early as this week. The paper's low value and Cablevision's insanely low bid take into account the News' $30 million annual loss and waning readership.
Subscribe to The Week
Escape your echo chamber. Get the facts behind the news, plus analysis from multiple perspectives.
Sign up for The Week's Free Newsletters
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
From our morning news briefing to a weekly Good News Newsletter, get the best of The Week delivered directly to your inbox.
-
How safe are cruise ships in storms?The Explainer The vessels are always prepared
-
What message is Trump sending with his Cabinet picks?TODAY'S BIG QUESTION By nominating high-profile loyalists like Matt Gaetz and RFK Jr., is Trump serious about creating a functioning Cabinet, or does he have a different plan in mind?
-
Wyoming judge strikes down abortion, pill bansSpeed Read The judge said the laws — one of which was a first-in-the-nation prohibition on the use of medication to end pregnancy — violated the state's constitution
-
Nobody seems surprised Wagner's Prigozhin died under suspicious circumstancesSpeed Read
-
Western mountain climbers allegedly left Pakistani porter to die on K2Speed Read
-
'Circular saw blades' divide controversial Rio Grande buoys installed by Texas governorSpeed Read
-
Los Angeles city workers stage 1-day walkout over labor conditionsSpeed Read
-
Mega Millions jackpot climbs to an estimated $1.55 billionSpeed Read
-
Bangladesh dealing with worst dengue fever outbreak on recordSpeed Read
-
Glacial outburst flooding in Juneau destroys homesSpeed Read
-
Scotland seeking 'monster hunters' to search for fabled Loch Ness creatureSpeed Read
