New York Daily News

It's brutal to watch. This is a paper that has nearly gone under several times over the last 3 decades. But even with that, this is really hard to watch. I feel bad for all the people who are going to be displaced, and it's also tough seeing a New York institution be so diminished.

I can't help but wonder if this actually might create an opportunity for another provider, not so much with regard to sports coverage, where maybe the Athletic will benefit, but in terms of local NYC coverage.

With the Daily News diminished, and DNAinfo and Gothamist both being killed off in the last year (even though WNYC brought back a scaled down version of Gothamist), I am wondering if there may be a small area for someone in local NYC coverage that could develop -- purely digital. I don't know how much someone would realistically have to consider putting up as an investment to see if it can be built and turn into positive cashflow relatively quickly, but if there was a commitment to doing it with more resources than what the Daily News is going to work with, I am wondering if an untapped market might be left in New York, where people will pay up a bit for better coverage, either on a circulation or advertising or mixed model basis. I wouldn't be surprised to see someone do it, or try to buy the Daily News name to do it. The problem is the debt and liabilities that Tronc took on when it made the Daily News its problem. I don't know how you value the business, but the debt might outweigh anything anyone will realistically pay, unless they can somehow make the New Jersey printing plant (and I am not sure how) that was supposedly at the heart of things for them into an asset that covers most of that lingering debt, while they monetize the Daily News name for whatever it is worth.