Free Republic

The New York Daily News, a tabloid that once boasted one of the highest daily circulations in the nation, has been sold to tronc, the Chicago-based former Tribune Publishing company, the companies said Monday night. The News, a nearly 100-year-old media company, is based in Manhattan and was owned by Mortimer B. Zuckerman. “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.

The New York Daily News, which bills itself as "New York's Hometown Newspaper," has been acquired by newspaper publisher Tronc. The deal was struck for $1 and the assumption of pension and operational liabilities, according to The Chicago Tribune, which is owned by Tronc. The sale price is 50 cents less than the Sunday edition of the newspaper and matches the weekday newsstand price of $1 per copy. In 1993, real estate magnate Mort Zuckerman bought it for $36 million. The newspaper's liabilities may exceed $30 million, The New York Times said. Chicago-based Tronc (TRNC), which also publishes the Los...

Gannett on Tuesday walked away from its attempted takeover of Tronc, the publisher of the Los Angeles Times, Chicago Tribune and other major dailies. USA Today publisher Gannett’s target was elusive from the beginning, with a publicly contentious back-and-forth between the two companies. Tronc, formerly known as Tribune Publishing, rejected at least two bids from Gannett because it said it preferred to go it alone, focusing on tech-driven initiatives involving artificial intelligence and global expansion in entertainment news and video. Shares of Tronc Inc. plunged 20 percent in early trading. …