Zuckerman invests real estate money in News

Boston Properties chairman Mortimer Zuckerman is taking some of his money out of real estate to invest it in the New York Daily News, he said last week. He will sell one million Boston Properties shares for about $50 million and will use that money to buy new printing presses for the Daily News. The sale of the shares represents about 9 percent of Zuckerman’s holdings, a Boston Properties spokesperson said. Boston Properties’ stock is “at the rich end of the reasonable range,” said analyst Michael Knott.

Sign Up for the undefined Newsletter