Deal Snapshot
CHICAGO TRIBUNE OWNER TRONC ACQUIRES THE NEW YORK DAILY NEWS
Wednesday 13 September 2017

US-based media company and Chicago Tribune owner Tronc, Inc. (NASDAQ: TRNC) has acquired all of the outstanding interests of New York City daily newspaper New York Daily News and NYDailyNews.com owner Daily News, LP., the company said.
Tronc will only pay USD 1 to acquire the paper, but will assume the paper's operational and pension liabilities. The paper hasn't been profitable in years, and the pension liabilities alone are USD 26.5m burden. The New York Daily News, with approximately 25m unique monthly visitors through NYDailyNews.com, has been New York City's "Hometown Newspaper" since 1919.


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Details
Date Published: 13/09/2017
Target: New York Daily News,  and NYDailyNews.com
Country: USA
Deal Size: 1 (USD)
Sector: Media
Type: Corporate acquisition
Financing: Cash
Status: Closed
Vendor: Mort Zuckerman
Buyer: Tronc, Inc
Buyer Advisor: Methuselah Advisors , Simpson Thacher and Bartlett
Comment:


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