Officially tronced: New York Daily News acquired by Tronc
The New York Daily News, with approximately 25 million unique monthly visitors through NYDailyNews.com, has been New York City’s “Hometown Newspaper” since 1919.
It has won 11 Pulitzer Prizes, most recently the prize in the category of public service journalism in 2017.
Tronc’s predecessor company, The Tribune company, founded the New York Daily News.
Under the terms of the transaction, Tronc assumed operational and pension liabilities of the New York Daily News. The company will meet the obligations from New York Daily News cash flow.
The transaction includes 100% ownership of the New York Daily News’ printing facility in Jersey City, New Jersey.
As part of the transaction, Tronc will acquire a 49.9% interest in a joint venture with Zuckerman-related entities that will own the 25-acre parcel of land on which the printing facility is located and which overlooks the Manhattan skyline. ■