New York is to get a new daily newspaper, courtesy of a group of investors including Conrad Black, the recently ennobled media mogul whose Hollinger International group owns the Chicago Sun-Times, Britain’s Daily Telegraph and Israel’s Jerusalem Post.

The New York Sun, which will target the residents of upmarket Manhattan, is being billed as a humble affair, with some $15 million of investment (Hollinger contributing up to $2m). Hollinger’s vice-chairman Dan Colson said the title would not compete with the New York Times and New York Post: “This is a small venture … It is a toe in the water to launch an upmarket, neo-conservative daily paper.”

Going out five days a week, the new publication will address “New York politics, New York business and the New York scene.” At the helm will be editor Seth Lipsky, one of the Wall Street Journal’s contributing editors.

Backers feel the city’s elite, a popular target for advertisers, is not adequately served. The paper launches in the first quarter of 2002

News source: Financial Times