Tronc Inc. is already controlling The Chicago Tribune and The Los Angeles Times. However, the company will extend its U.S. influence by becoming the new owner of New York publication, Daily News. The tabloid has been a resounding presence within the local media industry for almost 100 years. Its specialties were sports, local news, but also gossip as well.
Tronc Inc Bought the Daily News for $1 Plus Liabilities
The new change marks the end of an era for a publication that used to represent the working class in New York. However, the major transformation will strip real estate magnate Mortimer B. Zuckerman of his political influence that he used to unlock through this publication. The former owner used to print on the front page different commentaries about politicians and influence readers to his own opinions.
Nonetheless, the Daily News managed to build large popularity for itself. The publication collaborated with reputed columnists, such as Jimmy Breslin, Liz Smith, and Pete Hamill. However, this quality content had a lot to suffer as the leadership was at a tabloid war with New York Post which is in the possession of Rupert Murdoch. On top of that, the company had to further adapt to the fast world of the Internet. As a consequence, it lost further quality standards.
These events dented the influence of the Daily News considerably. Whereas in the 40’s the newspaper was enjoying a circulation of two million a day, these days it hasn’t seen more than a couple of hundred of thousands. The true assessment of how much this company lost over the years came with the official purchasing price. Reports claimed that the new owner Tronc Inc bought the company for $1 plus of course liabilities.
Despite its weakened influence, the New York Daily Tines still has a lot of good months ahead. This year only, the paper shared the Pulitzer Prize with ProPublica. On top of that, its titles are still able to stir social media in a second.
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