‘NY Sun’ Gets Ready To Rise

By: Lucia Moses

Yes, New York, there will be a new daily paper coming to town. The founders of The New York Sun, set to launch this spring, said last week that the broadsheet will provide high-quality, city-centric coverage for “serious New Yorkers.”

The paper takes the name of the legendary Sun that published from 1833 to 1950 and won fame for its 1897 “Yes, Virginia, there is a Santa Claus” editorial.

Owned by One SL LLC, the paper — headed by Seth Lipsky as CEO, president, and editor, Ira Stoll as vice president and managing editor, and William D. Kummel as chief operating officer — will be sold in all five boroughs on both home-delivery and single-copy bases.

New details released last week included the location of the paper’s headquarters — hard by what used to be the city’s “Newspaper Row” — and the names of its backers. One is Conrad Black’s Hollinger International Inc. Among the others are Charles Brunie, chairman emeritus, Oppenheimer Capital; Richard Gilder, partner, Gilder, Gagnon, Howe & Co. LLC; Bruce Kovner, founder and chairman, Caxton Corp.; Joseph H. Reich, managing partner, Centennial Associates Inc.; and Joseph S. Steinberg, president, Leucadia National Corp.

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