After a failed effort to acquire the Chicago Sun-Times, a rumored effort to acquire Us Weekly and failed effort to be acquired by rival Gannett, Tronc finally got its hands on another news paper. The company formerly known as Tribune Publishing is acquiring the New York Daily news. Sale rumors have circled the New York Daily news for years but owner Mort Zuckerman is said to have ran into difficulties finding a suitor. In the announcement Tronc CEO Justin Dearborn only touted Daily News’s digital audiences and how it will help Tronc expand its digital business ,which may be cause for concern for some Daily News employees. It is no secret that the paper like many others has been experiencing a steady decline on newsstand as more and more people consume their news via mobile and other platforms. But there is some hope as Tronc has taken 100% ownership of the New York Daily News’ printing facility in Jersey City.
Said Tronc CEO Justin Dearborn:
We are excited to welcome the New York Daily News team to the tronc family, and we look forward to working with them to serve new audiences and marketers while delivering value for our shareholders. As part of the tronc portfolio, the New York Daily News will provide us with another strategic platform for growing our digital business, expanding our reach and broadening our services for advertisers and marketers.”
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