Tags: Media Bias | new york | daily news | mortimer zuckerman | tronc

NYT: NY Daily News Close to Being Sold

Image: NYT: NY Daily News Close to Being Sold
Mortimer Zuckerman (Mark Lennihan/AP)

By    |   Monday, 04 Sep 2017 10:39 PM

The future of the historic New York Daily News is reportedly out of Mortimer B. Zuckerman's hands.

The tabloid is close to being sold to Tronc, publishers of papers including the Chicago Tribune and the Los Angeles Times, The New York Times reported late Monday.

No cash will be exchanged, as Tronc has agreed to take on the News' pension liability, reportedly worth more than $30 million. The paper is losing close to $30 million a year as it continues to struggle with advertising and dwindling circulation, the New York Post reportedThe deal will reportedly be announced Tuesday.

Zuckerman previously put the newspaper up for sale in 2015 and was in talks with several wealthy businessmen, including supermarket billionaire John A. Catsimatidis; the owner of the politics-focused publication The Hill, Jimmy Finkelstein; and the real estate investor Steven C. Witkoff.

The paper last year shared the Pulitzer Prize with ProPublica for public service after an investigation revealed a systemic abuse of an obscure civil enforcement law that ousted shop owners from their business and residents from their homes.

© 2017 Newsmax. All rights reserved.

 
1Like our page
2Share
Newsfront
The historic New York Daily News is reportedly close to being sold to Tronc, publishers of papers including the Chicago Tribune and the Los Angeles Times, The New York Times reported late Monday.
new york, daily news, mortimer zuckerman, tronc
180
2017-39-04
Monday, 04 Sep 2017 10:39 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved