Citing personal reasons, billionaire real estate magnate and publisher Morton Zuckerman, owner of the tabloid New York Daily News, has decided against running for the US Senate seat currently held by Senator Kristen Gillibrand.

From the New York Daily News:

Mr. Zuckerman, chairman and publisher of the Daily News, said personal and professional reasons were behind his decision not to challenge Democratic Sen. Kirsten Gillibrand.

"I was encouraged by many major political figures in New York to look closely at running for Senate," Mr. Zuckerman said.

"However, at this time, it is very difficult to see how I can devote the necessary time to either a campaign, or to working in Washington, if I were to win."

Mr. Zuckerman pointed out that he has a young family, which is the most important focus in his life.

In addition, he has assumed the position of CEO of Boston Properties Inc., the real estate company he co-founded with Ed Linde, who recently passed away.

"Ed and I were partners for more than 45 years, and with him no longer a part of our company, I owe it to all the loyal people who have worked with me for so many years to contribute to our continuing success," he said.

Mr. Zuckerman added that he had been extremely flattered that a possible run for Senate had brought widespread, bipartisan support from many corners of the state.

"I believe that there is a great deal that needs to be achieved in Washington, not only on behalf of the people of New York, but in trying to break some of the paralyzing deadlock that has gripped the political decision-making process," he said.

"However, it demands unhindered attention, which I am unable to give at this time."

These are unsettled times in New York State politics but at the very least the path to re-election for Senator Gillibrand, never really in doubt, now seems clearer.

In other news, embattled Governor David Paterson who last week was forced out of his bid for reelection as allegations surfaced that his office had intervened in an assault case against out of his top aides ruled out resigning before the end of his term. The unfolding scandal today claimed the head of the New York State Police,  Superintendent Harry Corbitt, who has chosen to take early retirement. Corbitt had acknowledged last month that a State Police official had contact with a woman who had accused a top Paterson aide of assaulting her on Halloween in the Bronx.

Lastly, House Ways and Means Chairman Charlie Rangel who represents the New York Fifteen Congressional District that encompasses Harlem in Manhattan is reportedly set to relinquish his gavel and take a "leave of absence" from his chairmanship according to MSNBC. If Congressman Rangel does step aside the chairmanship of the powerful committee will temporarily pass to Rep. Sander Levin of Michigan according to leadership sources, or to Rep. Pete Stark of California, the committee's second-ranking Democrat.