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Tronc buys New York Daily News
Tronc has bought the New York Daily News. The deal was finalized Sept. 3.
Tronc, headed by tech entrepreneur Michael Ferro, agreed to pay $1 for the paper, its website and other assets, and assume operational and pension liabilities amounting to more than $100 million, according to people familiar with the transaction who asked not to be identified, Bloomberg reported.
The deal includes ownership of a printing facility in New Jersey. Since 1993, the tabloid had been in the hands of billionaire Mortimer Zuckerman and business partner Fred Drasner. Drasner left the venture in 2004.
The paper's circulation is around 200,000 daily and 260,000 Sunday. It has about 800 employees and is not currently turning a profit.
The paper has won eleven Pulitzer Prizes. Its most famous headline came on Oct. 30, 1975: "Ford to City: Drop Dead."
The paper's editor-in-chief is Arthur Browne, who has said he'll stay until the end of 2017 and also function as publisher.
Aspen Daily News sold
Acting publisher David Cook and a group of investors have bought the Aspen Daily News (Colorado), the paper reported.
Cook, the acting publisher for the past three years and the paper’s general manager from 2003 to 2008, bought the paper with Spencer McKnight, who co-owns the local TV station Aspen 82 with Cook.
They got financial support from local real estate brokers Craig Morris, Ernie Fyrwald and Ben Roos, of Aspen Snowmass Sotheby’s International Realty.
The group, as the company Paperbag Media, bought the Daily News from Dave Danforth, who founded it in 1978. The deal closed in late August for an undisclosed sum.
The sale includes the paper’s printing press in Basalt. Danforth will keep ownership of the Main Street space that houses the Daily News offices and will lease to the new ownership group.
Cook told the paper he plans to invest in the paper’s digital capabilities and do other upgrades. His investors aren't interested in tampering with the news side of the business, he told the paper.
Danforth now heads Aspen Journalism, a nonprofit focused on long-form investigative work.
Aspen Times publisher Samantha Johnston said Aspen is lucky to have two daily papers.
“Obviously we have always had a good competitive relationship with the Daily News,” she said.
Hearst buys Illinois papers
Hearst has acquired the Journal-Courier ( Jacksonville, Illinois) and its sister publication, The Telegraph of Alton, from Civitas Media of North Carolina, the Journal-Courier reported.
Hearst President and CEO Steven R. Swartz and Hearst Newspapers President Mark Aldam announced the buy. The details of the purchase were spelled out to associates at both publications in late August.
The Journal-Courier is the oldest continuously published newspaper in Illinois, according to the paper. The newspaper and myjournalcourier.com cover Morgan, Brown, Cass, Greene, Pike, Schuyler and Scott counties and parts of Macoupin and Sangamon counties.
The Telegraph, founded in 1836, and thetelegraph.com cover Madison, Jersey, Macoupin, Calhoun and Greene counties in Illinois.
With the Illinois papers, Hearst Newspapers has 24 dailies and 64 weeklies around the country, including the Houston Chronicle and San Francisco Chronicle.
Boone affiliates purchase papers
Affiliates of Boone Newspapers have bought the Middlesboro Daily News (Kentucky) and two neighboring newspapers from Civitas Media of North Carolina.
Non-dailies Harlan Enterprise (Kentucky) and Claiborne Progress (Tazewell, Tennessee) were included in the deal. Newly formed entities owned by Carpenter Newsmedia and managed by Boone Newspapers made the buy.
CNL is an affiliate of BNI, with offices in Natchez, Mississippi, and Tuscaloosa, Alabama.
“We are pleased and honored to assume responsibilities for these newspapers and look forward to working with each staff member and community. We will work hard to meet every obligation to each community served and to produce newspapers and websites each community can be proud of,” said Todd Carpenter, BNI’s CEO and principal owner of CNL.
Bill Sharp will stay on as publisher of the newspapers and related websites.
CNL has ownership in BNI affiliates in Kentucky, Mississippi, Alabama, Georgia, Louisiana, North Carolina, Texas and Virginia. BNI owns and manages 75 newspapers in similar-sized communities that, in addition to those in which CNL has ownership interest, are in Minnesota, Michigan and Ohio.
Other Kentucky affiliates of BNI and CNL are in Frankfort, Danville, Winchester, Nicholasville and Stanford.