Cablevision to Make $1 Offer for New York Daily News

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by: Liana B. Baker | Reuters

(Reuters) – U.S. cable T.V. operator Cablevision Systems Corp (CVC.N) is planning to make an offer for the New York Daily News as early as this week, valuing the troubled tabloid at just $1, according to a person familiar with the matter.

 

The offer would come one month after New York media and real estate magnate Mortimer Zuckerman said he was considering selling the newspaper and had hired Lazard Ltd (LAZ.N) to assist with the process.

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