Today May See New Owner for N.Y. Daily News
The Daily News’ future owner could be decided today, either by the unions and creditors or by a bankruptcy court judge.
U.S. World & News Report Publisher Mortimer Zuckerman and Canadian press baron Conrad Black have been bidding for the debt-ridden paper since spring.
But despite numerous deadlines, an agreement with either has remained elusive.
All parties are scheduled to appear in U.S. Bankruptcy Court today before Judge Tina Brozman, who has warned that the paper is running out of money and must settle on a buyer soon.
Last week, the unions set up three days of round-the-clock negotiations that ended with them saying they could not decide between Black and Zuckerman.
The Newspaper Guild, which represents editorial employees, objects to Zuckerman’s demand for a free hand in firing editorial workers, while the drivers and pressmen’s unions are worried about Black’s proposals to reduce their membership.
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