Newsday Media Group selling amNew York to Schneps Media

Newsday Media Group is selling amNewYork, its free commuter newspaper in New York City, to Schneps Media, effective Oct. 11, officials announced Wednesday. amNewYork was launched in 2003 and is Manhattan’s highest daily circulation newspaper and has almost 1 million unique visitors to its website each month

Although the sale price was not disclosed, sources quote is as “being only $1.00.”

Newsday publisher Debby Krenek said: “amNewYork has become an important part of daily life in the city … We are confident that this tradition of serving New Yorkers will continue with Schneps Media, whose strong commitment to local media makes them the ideal new publisher of amNewYork.”

“Moving forward Newsday Media Group will fully focus on serving Long Islanders with news, information and experiences as we continue to expand our multimedia products and platforms, and fulfill our mission of being the primary source of powerful local journalism as ‘Your Eye on LI,’ ” Krenek added.

In addition, the buyer company, Schneps owns 33 newspapers, 28 magazines and specialty publications and 20 websites, produces numerous podcasts and hosts 50 annual events. Some of its notable publications include Queens Weekly, Bayside Times, The Villager, Long Island Press and the Spanish-language paper Noticia Long Island.

Schneps president and publisher Victoria Schneps said: “We are delighted to add amNewYork to our media company. We thank Newsday for this opportunity to carry on the commitment of amNewYork to deliver the best and most important local news stories.”