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Report: Cablevision will seek to buy the New York Daily News for $1

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.