Tronc Acquires New York Daily News

(RTTNews) - Los Angeles Times and Chicago Tribune owner Tronc Inc.(TRNC) acquired New York Daily News. According to media reports Tronc would receive 49.9 percent stake in the Daily News, which has been in existence since 1919. There will not be any cash transaction for the deal.

The New York Times that published an exclusive on the deal said Tronc would undertake the news operations, 25 acre printing plant in Manhattan as well as the pension liability.

The Daily News is said to have 7.6 online visitors every month. Mortimer Zuckerman has been the owner of the Daily. Justin Dearborn, CEO of Tronc said it looks forward to working with them to serve audiences and marketers while delivering value for the shareholders.