Published On: Wed, Nov 23rd, 2016

Mort Zuckerman’s NY Daily News Continues Cutbacks

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The New York Daily News, part of Mort Zuckerman’s business empire, continues to have troubles. It is currently offering a buy out to its staffers.

Obviously all print media is suffering these days. The internet offers people free and up to date news and the latest is blasting all over social media from celebrities and politicians alike, thereby mooting the need for even going to news web sites.

But this has not stopped rival New York daily tabloid The New York Post from gloating about the Daily News’ woes. That paper has been all over the Daily News story, placing news about its lay offs on its website. The Post most recently reported that on Monday more than 20 Daily News staffers came forward before the deadline to take advantage of an offer to buy out their contracts.

This may be because the Post is more conservative as it is part of Rupert Murdoch’s News Corp media empire. The Daily News, as can be seen in the tweet above, is more liberal. The Post praises Trump and slams Clinton and The Daily News does the opposite.

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Daily News owner Mort Zuckerman, who also owns U.S. News and World Report, is known for being a liberal as opposed to his rival Rupert Murdoch.

The Daily News lost $30 million in 2015 and is looking to save $6 million from staff cut backs. When Mort Zuckerman announced the cut back plans a few weeks ago he released an internal e mail letter saying, “I am deeply pained to write this letter but nowhere near as pained as you will be to read it.”

“As you know only too well, the economics of journalism are brutalizing media organizations across the country and beyond. Revenue that was once taken for granted is long gone, forcing the industry to evolve rapidly. Although the Daily News has made remarkably successful strides, we must move still more quickly to serve a growing readership.”

But the competition has no reason to celebrate. The Daily News is still on its feet, for now. And more importantly there is a domino effect in place here. Every time an established member of the family of print media in America shutters its doors, another one doing so as well is not far off. All print media is suffering these days and the Post is not immune to the problem.

Tabloids like The Daily News and the New York Post are the most in jeopardy because their sensationalist approach to journalism has been bested by the blogosphere on line. In contrast, broadsheets like The New York Times and The Los Angeles Times still have something to offer the more discerning reader.

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