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Article: New York, New York.(Briefs)(New York Post is losing money)
- Article from:
- Crain's New York Business
- Article date:
- November 3, 2003
CopyrightCOPYRIGHT 2003 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: edited by Emily DeNitto
Reports of debt exaggerated
Lachlan Murdoch predicts his New York Post will be profitable within two years. The publisher denies ever admitting that the paper loses $40 million a year, a claim made in New Yorker writer Ken Auletta's forthcoming book, Backstory: Inside the Business of News.
"We're absolutely not losing $40 million,'' he says. "It's not in that ballpark.''
He also says his titillating tabloid will edge out rival Daily News in circulation. For the six months ended Sept. 30, the Post's circulation jumped 10.6% over the same period last year, to an average 652,426 copies sold daily, according ...