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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. 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 Angeles Times, announced the deal Monday night, and the Daily News posted a story on its website. It was first reported by The New York Times.
Read more https://www.cbsnews.com/news/the-new-york-daily-news-bought-by-publisher-tronc-for-1/
The deal was struck for $1 and the assumption of pension and operational liabilities, according to The Chicago Tribune, which is owned by Tronc. 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 Angeles Times, announced the deal Monday night, and the Daily News posted a story on its website. It was first reported by The New York Times.
Read more https://www.cbsnews.com/news/the-new-york-daily-news-bought-by-publisher-tronc-for-1/
