New York Magazine Is Officially For Sale
New York magazine has become the latest legacy title to hang out a “for sale” sign, and the guessing game has already begun to see who will make a run at it. Supermarket magnate John Catsimatidis and American Media Inc. CEO David Pecker are expected to be among the tire-kickers. “I’ll at least look at it,” Catsimatidis told Media Ink. “After we look at the numbers, I’ll make a decision.” American Media is said to be perpetually cash-strapped, but somehow keeps coming up with money to do deals such as the $100 million acquisition of US Weekly and the $80 million purchase of In Touch, Life & Style and other titles from Bauer. Pecker did look at New York last time it was on the block, but was outbid. A source close to the company said he’d certainly be taking a look this time around. Read more at New York Post.
