An Angel for the News

But Joe Allbritton could be a devil for its unions

When Chicago's Tribune Co. put the New York Daily News up for sale last December, many journalists and businessmen doubted that a buyer would come forward. Even though it ranks as the nation's largest general-interest paper, the News (circ. 1.5 million) lost at least $ 12.6 million last year and expects to lose anywhere from $25 million to $50 million this year. Indeed, several potential purchasers* seemed more interested in its 1930 Art Deco office tower in midtown Manhattan than in the paper.

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