NY Daily News Sells for $ 1 and Sold For $ 1
Tronc,the Los the Angeles publisher Times of and Tri-bune,The purchased Chicago the New accord-ingto York a press Daily release News, Monday. the “We New are York excited Daily to News welcome team to forwardthe Troncto workingfamily, and with we themlook to serve new while audiences delivering and marketers val-ue Dearborn,for our CEO shareholders,”of Tronc, Justinsaid in Tronca statement. portfolio, “As the part New of York the Daily another News strategicwill provide platformus withfor growing expanding our our reach digital and business, broad-ening advertis-ersand our marketers.”services for New With York the Daily purchase News, of Troncthe now owns largestnews outlets media in the country’s mar-kets Los Angeles— New York,— increasing Chicago, theirand attractivenessNew York Dailyto advertisers.News, New tab-loid,York once City’s boasted “workinga circulationclass” of the two 1940s. million Readership readers hasa day nowin been hun-dredthousands.reduced to Recentthe low layoffs to along reduce with the real newspaper’sestate movesstaff were pla-teauingimplementeddigital growthto offset and low print Unlike circulation.The New York Times un-ableand New The to York capitalize WashingtonDaily Newson decidedlyPost,was the anti- Trump digital coverage subscriptionsto attractand newad revenue. It appealed mostly to made subwaythe transition commuters, to digital which media catch-ingheadlines— where are pithy omnipresenteye- — Althoughmuch more financialdifficult. terms wereYork Timesnot disclosed, reported that The Tronc New bought newspaper the for almost$ 1 ( yes, centuryone dol- old lar)$ 30 millionand the in assumptionliabilities. of over 49.9
What percent Tronc ownershipgets in returnof theis New property York in Daily Jersey News’ City, 25- N. acreJ., where located. their Tronc printingplans on plant usingis the facility to own, also like print the other papers Hart-fordCourantthey and The Morning to Call saveof Allentown,money, accordingin an effort to TheNYT.
Known the for New their York poignant headlines, Daily News Although isn’t no a longer complete carrying failure. the influencethe paper it sharedonce had, the in Pulitzer 2017, Prize pub-licservice with in ProPublica exposing for the New York widespreadCity Police abuse Department’sof eviction rules. Mortimer B.
New York News Zuckerman, previous bought Daily the paper in 1993 owner,for $ 36 million.
Tronc, the publisher of the Los Angeles Times has bought the NY Daily News