• NY Times, Monday, January 16, 2006 11:01 AM

Peter Kaplan, editor of the weekly New York Observer has been quietly approaching trade publishers and wealthy individuals to see if they might be interested in buying the 45,000 circulation pink sheet. The paper, founded in 1987 by millionaire Arthur Carter, has won the hearts of New York's intelligentsia, but has never been seen as much of a money-maker or a must- buy for Madison Avenue. According to The New York Times, it loses about $2 million a year, but that may not hurt prospects for a sale as New York's rich and powerful line up for an opportunity to influence, well, New York's rich and powerful. Potential suitors, according to The New York Post, include: Bruce Wasserstein, owner of New York magazine and American Lawyer Media; and trade publisher Reed Elsevier.

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