Mort Zuckerman, the billionaire owner of the New York Daily News, told employees in a memo today that he is exploring a sale of the newspaper.
Here's the full memo, obtained by BuzzFeed News.
I want to share with you a new development regarding the company.A few weeks ago, we were approached about our potential interest inselling the Daily News. Although there were no immediate plans toconsider a sale, we thought it would be prudent to explore thepossibility and talk to potential buyers and/or investors. To help uswith the process, I have retained Lazard, a leading financial advisoryfirm.I have not come to this decision easily. But I believe the immensehard work in turning the business around in an extremely challengingperiod for the industry, has put the Daily News in as strong aposition than it has ever been, particularly online.I appreciate that this news is difficult for you to digest. But I wantto reassure you that my aim throughout this process will be to do theright thing for the business to ensure the Daily News and itsbrilliant staff have the best opportunity to achieve all our futureambitions.Mort