What Next For New York Magazine?

New York magazine owner Bruce Wasserstein died yesterday. So did a clear vision of New York's stable future. Who's next to control one of the city's shiniest media properties?

New York is controlled by a Wasserstein family trust, and nobody knows what the trust will decide to do now that Wasserstein's gone. Which is not to say it's too early to speculate. The Observer points out that at least two of Wasserstein's kids are former or current journalists, and wonders whether they might have an interest in taking over for dad.

But New York is not a moneymaking enterprise. It was one thing for the hyper-ambitious Wasserstein to snatch control of the mag for himself, beating out a consortium of similar bidders, Including Mort Zuckerman, Jeffrey Epstein, Michael Wolff, and Harvey Weinstein. It's quite another thing for his family to decide to continue pouring money into the publication. Keith Kelly today floats a few possible buyers for New York. Let's handicap them!

Mort Zuckerman, mogul and NY Daily News Owner: 3-1. Zuckerman has a big enough ego that he surely must covet New York, which is quite a step of respectability above the Daily News. He owned US News & World Report—now a shell of its former self—and New York could satisfy his glossy magazine jones again. Plus, he's not seriously broke.
Harvey Weinstein, Weinstein Co.: 6-1. Weinstein might want to own New York more than anyone. But his financial struggles at his main business make branching out into a money-losing magazine not the smartest move.
Jason Binn, Niche Media CEO: 8-1. Could be deadly to New York's inherent classiness (of a sort). Let's hope not.
Nick Denton, Gawker overlord: 50-1. You never know with this guy!

Perhaps a more realistic guess: Some sort of coalition of financiers and insiders from Wasserstein's personal empire, who'd have both the money and the knowledge to take over with little disruption. Personally, we're pulling for Wasserstein's kids to keep it in the family, though. This city (and this blog) needs all the sprightly young media moguls it can get.