Pam Wasserstein was tight-lipped about efforts to sell New York Magazine and its popular websites, including The Cut, Grub Street and The Strategist.
Sources estimate that parent company New York Media, where Wasserstein is the CEO, lost $5 million to $10 million last year. Wasserstein, the daughter of the late billionaire investment banker Bruce Wasserstein, had been running it through a family trust since his death nine years ago.
One source tells Media Ink that rather than an outright sale, the family would prefer a deep-pocketed strategic partner who could team up with them and invest heavily in the digital side.
The company recently agreed to recognize the NewsGuild of New York as the bargaining agent for 180 full-time and part-time editorial workers. And it will soon be shedding the big salary of longtime Editor-in-Chief Adam Moss, who said he was stepping down next month.
Wasserstein ducked the sale/strategic partner issue entirely. “I’m not going to say anything,” she told Media Ink, hurrying away after appearing on a panel that featured such industry heavy-hitters as Hearst Magazines President Troy Young, Trusted Media CEO Bonnie Kintzler, Meredith CEO Tom Harty and Bonnier Corp. CEO Eric Zinczenko.



