Business Standard

Tronc buys to expand footprint


Tronc, owner of newspapers including the Los Angeles Times, Baltimore Sun and Chicago Tribune, agreed to pay $1 and assume pension sand liabilitie­s for the New York Daily News and NY Daily News. com to expand its digital

business and add coverage of the biggest media market in the US. Chicago-based T ron cass um ed operationa­l and pension liabilitie­s for the New York Daily News in a deal that includes 100 percent ownership of the New York newspaper' s printing facility in New Jersey, T ron cs aid in a statement late Monday. The pension sand liabilitie­s T ron c is accepting under the deal total more than $100 million, according to people familiar with the matter, who asked not to be identified because financial terms are confidenti­al. Acquisitio­n of the almost 100- year-old paper marks the highest-profile media deal for Tronc Chairman Michael Ferro, a former software entreprene­ur and investor, since he bought into the company last year through his Mer rick Ventures.

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