Witkoff in talks with Daily News unions

Real estate mogul Steve Witkoff has been locked in negotiations with the Daily News’ two biggest unions over his plans to buy the troubled tabloid from owner Mort Zuckerman, The Post has learned.

A deal is far from done, however. Witkoff did not submit a formal bid by the late May deadline and has yet to put an offer on the table. He got a period of time to see what kind of concessions he could wrangle from the drivers and pressmen as part of due diligence, sources said.

Contracts for the two main trade unions expire in 22 months. So far, Witkoff is the only potential bidder willing tohammerout a new multi-year agreement, giving rise to roundtheclock talks with the unions lastweek.

Officials for the unions did not return calls seeking comment. Witkoff declined to comment.

John Catsimatidis, the supermarket billionaire who owns Gristedes and Red Apple, is said to be willing to honor the current contract but has made no move to extend it beyond its current expiration date.

A group headed by Jimmy Finkelstein, the owner of political trade The Hill, is said to be more interested in pursuing the Daily News as a digital play and has held no serious talks with union officials.

Still, hammering out a union deal is only part of the picture. The trades represent about 450 workers, while the far larger nonunion workforce, including the newsroom, totals 1,400 people.

Buying the paper isn’t a vanity project for Witkoff, who is unlikely to pursue a deal unless he can see a way to stop the flow of red ink and return the paper to profitability, sources said.

The Daily News’ circulation is said to have fallen about 30 percent since readers were slugged with a 66 percent hike last June that jacked up the newsstand price from 75 cents to $ 1.25.