New York’s hometown paper is once again owned by a Chicago-based newspaper holding company, following the New York Daily News’ sale on Monday to Tronc Inc.
In a way, it’s like deja vu all over again. Tronc was formerly Tribune Publishing, the publisher of the Chicago Tribune, which originally created The New York Daily News nearly a century ago.
Tribune Co.,owned the New York paper until it was sold in the 1990s, first to British newspaper magnate Robert Maxwell, and then again to U.S. media tycoon Mort Zuckerman.
Terms, including a sale price, were not disclosed.
As part of the transaction, Tronc said it will have 100% ownership of The New York Daily News’ printing facility in Jersey City, New Jersey, and a 49.9% interest in a joint venture with Zuckerman-related entities that will own the 25-acre parcel of land where the printing facility is located and which overlooks the Manhattan skyline.
“With the New York Daily News back under our umbrella, Tronc will serve 10 major U.S. markets, including each of the top three, hold 105 Pulitzers and have over 80 million unique monthly digital visitors,” Tronc CEO Justin Dearborn said in a statement announcing the deal.