Tronc Acquires New York Daily News

tronc, inc. | News Release

Tronc to Buy New York Daily News

Headquartered in Chicago, tronc operates newsrooms in nine markets with titles including the Chicago Tribune, Los Angeles Times, The Baltimore Sun, Orlando Sentinel, South Florida's Sun-Sentinel, Newport News, Virginia's Daily Press, Allentown, Pennsylvania's The Morning Call, Hartford Courant, and The San Diego Union-Tribune.

The New York Daily News, the storied century-old tabloid known for its provocative headlines, has been sold for US$1 (RM4.26), in the latest sign of turmoil in the newspaper sector. It can also indicate the conclusion of the political effect its owner the real estate magnate Mortimer B. Zuckerman, who often utilized paper's bold, front-page headline recognized as the wood for elucidation about candidates and politicians regionally and nationally.

Owner Mort Zuckerman previously listed The Daily News for $200mn back in February 2015.

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"Adding an iconic media property like The Daily News not only expands our tremendous portfolio of newspaper brands, it also allows us to grow our digital platform and broaden our services for advertisers and marketers", Dearborn said.

Arthur Browne, current editor-in-chief of the New York Daily News has also been named as Publisher.

The New York Times reports that no money changed hands in the deal.

In the wake of Hurricane Harvey, however, Mnuchin told CNBC on Thursday that the deadline could move up a few days. He says it's time to "put politics aside" so storm victims can get the help they need.

The News, which bills itself as "New York's Hometown Newspaper", has always been a paper aimed at the working class in the nation's biggest city.

The Daily News has a daily circulation of 200,000, and about 260,000 on Sundays.

The transaction gives Tronc the Daily News printing facility in Jersey City, New Jersey, and a 49.9% stake in the land on which the printing facility is located and which overlooks the Manhattan skyline.

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Tronc is the new iteration of Tribune Publishing, a spinoff of Tribune company that used to own Newsday. The paper is losing close to $30 million a year as it continues to struggle with advertising and dwindling circulation, the New York Post reported.

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