NEW YORK: Bruce Wasserstein, one of Wall Street’s best-known merger advisers, has signed a deal to buy New York magazine from Primedia Inc for US$55mil, pulling off a surprise victory in the closely watched auction of the 35-year-old weekly.
He beat out a cadre of wealthy media executives who have been elbowing each other for months to buy the up-scale magazine that chronicles the cultural goings-on around New York and gossip about the city’s elite.
