EFTA00188411¶
Archives: New York Post¶
Page 1 of 2¶
THE TITLE FIGHT: NEW YORK - THE MAGAZINE, THAT IS - AWAITS NEW OWNER¶
KEITH J. KELLY. New York Post. New York, N.Y.: Dec 14, 2003. pg. 031¶
Abstract (Document Summary)¶
BIDDER: David Pecker’s American Media BIDDER: Investor group of U.S. News and World Report boss Mort Zuckerman, Miramax co-Chairman [Harvey Weinstein], Cablevision CEO Jimmy Dolan, bigtime adman [Donny Deutsch] and New York Columnist [Michael Wolff].¶
The editing question has mostly centered on the Zuckerman team. Since Wolff bought in Deutsch and [Jeffrey Epstein], the New York mag columnist undoubtedly expects to be picked as some kind of editorial uber boss. Weinstein is in the coalition but is still smarting over the drubbing he took in Wolff’s book, “Autumn of the Moguls.”¶
Full Text (441 words)¶
(Copyright 2003, The New York Post. All Rights Reserved)¶
In the weeks to come, the city’s chattering classes will be consumed with handicapping who’ll be editor-in-chief of New York magazine after Henry Kravis and Primedia get through selling it.¶
Nobody was talking officially last week, pending a deal as final bids arrived Thursday. The consensus is the highest offer is for about $55 million - coming from a motley team of millionaires and billionaires around Mort Zuckerman.¶
The coalition includes: Zuckerman, the owner of the Daily News and U.S. News & World Report; billionaire financier Nelson Peltz; mysterious money manager Jeffrey Epstein; ad executive Donny Deutsch, Miramax cochairman Harvey Weinstein; and non-cash contributors Michael Wolff of New York magazine and possibly Jim Dolan, CEO of Cablevision.¶
The other two rival bidders are almost diametrically opposite: Bill Curtis’ Curtco Media publishes super-upscale glossies, The Robb Report and Worth. American Media publishes the downmarket supermarket tabloids National Enquirer, Star and Globe, plus health and fitness magazines such as Men’s Fitness and Shape.¶
“Whoever the editor is has to have a strong point of view,” offers Clay Felker, who launched the magazine as an independent weekly in 1967. It was not a particularly bright time in the city. But Felker and his young writers took on the challenges, exposing the best and the worst of the city. “We believed the city was the imperial center of the United States and possibly the world,” he said.¶
The editing question has mostly centered on the Zuckerman team. Since Wolff bought in Deutsch and Epstein, the New York mag columnist undoubtedly expects to be picked as some kind of editorial uber boss. Weinstein is in the coalition but is still smarting over the drubbing he took in Wolff’s book, “Autumn of the Moguls.”¶
Weinstein is thought to favor Radar founder Maer Roshan as editor. New York Observer Editor Peter Kaplan’s name has surfaced - but he and Wolff have had a public feud.¶
The world has changed and the question now is: can the new owners regain that old glory - or will there be too many sacred cows in the ownership mix?¶
As one observer asked as the Zuckerman coalition emerged as the favorite, “Who will be left to make fun of?”¶
Henry Kravis, watch out.¶
http://pqasb.pqarchiver.com/nypost/503203971.html?MAC=8562d59151d6ab55b4753a2… 11/30/2005¶
EFTA00188412¶
Archives: New York Post¶
Page 2 of 2¶
[Illustration]¶
BIDDER: David Pecker’s American Media BIDDER: Investor group of U.S. News and World Report boss Mort Zuckerman, Miramax co-Chairman Harvey Weinstein, Cablevision CEO Jimmy Dolan, bigtime adman Donny Deutsch and New York Columnist Michael Wolff.¶
Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without permission.¶
| People: | Kravis, Henry, Deutsch, Donny, Weinstein, Harvey, Wolff, Michael, Zuckerman, Mort |
| Section: | Business |
Text Word Count 441¶
Document URL:¶
http://pqasb.pqarchiver.com/nypost/503203971.html?MAC=8562d59151d6ab55b4753a2… 11/30/2005¶