Media and property mogul Mortimer Zuckerman is taking money out of real estate to invest it in his New York tabloid Daily News, per an SEC filing. Zuckerman says he will sell 1
million shares in The Boston Properties, reaping some $50 million. Some of that money will go toward new printing presses for the newspaper.
A Boston Properties rep says the sale
represents only 9% of Zuckerman's total holdings and doesn't indicate that the real estate firm's stock price is topping out. For the Daily News, the new presses are said to be an "interesting"
investment at a time when much of the industry is moving out of the printing business.
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