#Ny daily news drivers#

Still, pension experts say that Heath Freeman, president of Alden Global Capital, could have a tough time backing out of the paper’s pension liabilities since its Tribune Publishing unit, which owns the Chicago Tribune, the Baltimore Sun, the Orlando Sentinel and the Hartford Courant, still makes a nice profit. Today, its paid print circulation has shrunk to only 63,000 copies a day. In its heyday, the Daily News boasted a circulation of over 2 million during the week and 5 million on Sunday.

#Ny daily news drivers#

The pension liabilities are owed largely to the blue-collar pressmen who print the New York tabloid and the drivers who have delivered the paper over the years.

Sources speculate that a bankruptcy could help get Alden out from under the paper’s burdensome pension obligations, variously estimated at anywhere from $20 million to nearly $100 million. The Daily News was forced to vacate its Broad Street office in Lower Manhattan during the pandemic, and has since shifted to a virtual newsroom. “We’re looking at the SEC filings and we’re worried that they are trying to get out of their pension liabilities,” Heffernan said.Īgainst this backdrop, negotiations over new union contracts grew heated at a meeting Wednesday between union officials and Daily News representatives. John Heffernan, president of the New York Pressmen’s Union who also heads the Allied Printing Trades Council for drivers, electricians and mailers, said “all the unions are suspicious” of the spinoff. In Chapter 11, a company continues to operate while seeking to lower its debts.Īlden bought the Daily News along with nine other dailies owned by Tribune Publishing in May, but spun off the New York tabloid into a separate entity, sparking concerns about the paper’s future. “This is entirely false and clearly your source knows that by making up lies under cloak of anonymity,” the spokesman said. “It is definitely on the table and maybe the front of the table, not a side table.”Ī spokesman for the paper’s new owner, hedge fund Alden Global Capital, dismissed it as an unsubstantiated rumor. “It is under consideration,” said a source with knowledge of the situation. The new owner of the New York Daily News is mulling a possible Chapter 11 bankruptcy filing for the New York City tabloid, a source tells Media Ink.

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