Forbes has an interesting update today on last week’s gambit by Boston Properties chairman Mort Zuckerman to cash in $50 million of his company stock, and pour it into a new printing press for the NY Daily News.
Zuckerman tells Forbes that the $50 million is just the start. He’s sinking a full $200 million of his own cash into the Daily News‘s new presses. Why? Because when he’s done, the paper will look really cool. And he just can’t help himself.
“These presses will give us 120 to 160 pages of fantastic, magazine-quality color with incredible speed and efficiency. There is only one other printing plant in the U.S. that approximates this kind of visual experience. We will leapfrog every newspaper in America. That said, I’m not trying to pretend this is going to make the Daily News hugely profitable. I’m doing this, to be candid with you, as much as anything else because I’m addicted to the print press. I’ve been a fanatic about journalism since I was 12 years old.”
Also: Is there rehab for print addicts?