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‘New York Observer’ Seeks Buyer

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The New York Observer, with its audience of Manhattan’s elite, has a stalled circulation of about 45,000, is facing increasing challenges, and may be seeking a buyer, according to the New York Post.

In addition to general newspaper industry woes, the paper competes with two daily freebies, am New York and Metro, which are distributing hundreds of thousands of copies a day.

The Observer’s editor, Peter Kaplan, went to England to search out a buyer, and also approached Bruce Wasserstein - whose media holdings include New York magazine and American Lawyer Media - sources say.

Kaplan wouldn’t like to see the Observer - which covers politics, culture, love, and more, and has never run in the black - fold. According to the article, he’s committed to it in part because of the number of young and talented reporters he cultivated. His biggest find may have been Sex and the City by Candice Bushnell, the column that inspired the HBO series.

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