Jared Kushner’s newspaper, The New York Observer, is close to buying Breaking Media’s Wall Street gossip blog, Dealbreaker. In fact, a source close to the deal tells us people at both companies describe it as “done.”
But another source, one close to the higher-ups at the Observer, cautions that the deal is “not final yet.”
Bess Levin wants to get paid.
Bess is Dealbreaker’s top editor and everyone, including her, knows she’s the only reason anybody reads the site.
Deal talks began earlier this year, but stalled this summer when the Observer demanded Breaking Media to lock-in Bess for three years. Supposedly Breaking Media low-balled Bess with a three-year contract with a $50,000 signing bonus and a small raise over her current salary. Bess balked.
And now, even though the Observer has agreed to buy DealBreaker for $500,000 to $1,000,000, Breaking and Observer still haven’t offered Bess a big enough retention bonus.
We say: atta girl! Get yourself that apartment in the sky.
The Observer has made no secret of its love for Bess Levin. Earlier this year it named her one of “The 50 People Remaking New York.”
The reason Dealbreaker is going for so cheap is that, even with its rich audience, it’s hard to sell ads against its very entertaining but gossip-y and sexed-up content. That and you have to pay Bess.
Bess Levin and The New York Obsever declined to comment on this story.
NOW WATCH: Briefing videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.