The New York Daily News is now off the market, following the announcement of the company's Chairman and Publisher Mortimer B. Zuckerman to all of his staff in an emailed statement, according to a report from the Daily News.
Zuckerman believes in the company's potential.
The Daily News added that Zuckerman said in the statement that he decided to withdraw the company from the market after meeting with several potential buyers.
"I have met with several potential interested and well-intentioned suitors during this process," he said. "For a variety of reasons, I have decided to withdraw the Daily News from the market and have instructed our financial advisors to inform the suitors."
Zuckerman added in his statement that one of the reasons for the withdrawal is his belief in the company's potential, according to the Daily News.
"As I have repeatedly expressed, I have always believed that the Daily News, with its powerful influence in New York City and growing digital operation, is a business with enormous potential," he said.
The New York Daily News, a widely read tabloid in the New York area, was available on the market, after Zuckerman announced that he is exploring a possible sale of the company in February, according to The Wall Street Journal.
A potential buyer approached Zuckerman, which initiated the exploration of a possible sale.
The Wall Street Journal added that the company, who hired investment bank Lazard to advise on the deal, elicited limited interest during the rocky six-month bidding process.
Zuckerman wasn't satisfied in any of the given offer.
The bidders for the Daily News included John Catsimatidis, owner of the Gristedes Supermarkets, and James Finkelstein, publisher of The Hill in Washington, D.C. and a former part-owner of the Hollywood Reporter, Adweek and Billboard magazine, according to The Wall Street Journal.
Zuckerman added in his statement that he believes that the company and its outstanding team will be able to "realize the ambition of this great New York City institution," according to the Daily News.
