By John Glenday

US publisher Tronc, owner of the Chicago Tribune and Los Angeles Times, has expanded its footprint to the east coast with acquisition of the New York Daily News for an undisclosed sum.

The deal sees Tronc, formerly known as Tribune Publishing Company, wrest control from former proprietor Mort Zuckerman, with whom Tronc will partner by purchasing a 49.9% stake in a joint venture property firm which owns a 25-acre plot in New Jersey from which the Daily News is printed.

Under the terms of the deal Tronc will also assume $30m in liabilities associated with the paper which Read full story ›

Source: The Drum