July 11, 2009 – afcp – Association of Free Community Papers
Baldwin, NY – New York based media appraiser and broker Kevin B. Kamen believes that it is not the New York Times that Rupert Murdoch wants to acquire next for his media empire but rather his only competitor in the New York Metro market, Mortimer Zuckerman’s New York Daily News, that he will soon be targeting. On Friday evening, Kamen said,” Nobody should be shocked if Mr. Murdoch, who wanted to ascertain Newsday a year ago and lost out to Mr. Dolan at Cablevision, decides to make an offer to Mr. Zuckerman in the coming weeks. Rupert is a smart businessman and he knows full well that, with the weak economy and circulation dwindling at nearly all the New York daily newspapers, this is a good time to make a deal. It’s always good to buy when the value is depressed and right now it certainly is.” Kamen continued, “advertising is down nearly 35% year over year at most titles and, with the housing market still in a tailspin, classifieds are not carrying the weight they did for many years. With the auto industry in chaos and the housing sales and unemployment figures hitting rock bottom, the newspaper industry is not only fighting off internet usage but it is holding on for dear life. New York City is nearing the day of having a single tabloid and Rupert wants to be the last one standing when the music stops playing.”