In a time when most newspapers see their futures on the internet, the Daily News has put $150 million where it might make the least sense: brand new printing presses. The paper "heralded a new era for New York's favorite newspaper" with a gala yesterday to celebrate its new printing presses, which are faster than the older presses and capable of printing color on every page — potentially allowing paper to secure more lucrative color ads and push back its deadlines to gain an an edge on the Post.
Real estate magnate and Daily News owner Mort Zuckerman claims the presses will offer "a much higher level of production and make it once again a modern newspaper." That said, the Times points out that Zuckerman signed for the new plants two years ago, before a steep drop in ad revenue and his paper's subsequent decline in weekday circulation from 700,000 to 550,000. Zuckerman defended his decision: "I’ve been a contrarian for my entire business career. My commitment here is to the long term."