Tronc acquires tabloid New York Daily News

Parent company of Hartford Courant expected to buy NY Daily News Report

Headquartered in Chicago, tronc operates newsrooms in nine markets with titles including the Chicago Tribune, Los Angeles Times, The Baltimore Sun, Orlando Sentinel, South Florida's Sun-Sentinel, Newport News, Virginia's Daily Press, Allentown, Pennsylvania's The Morning Call, Hartford Courant, and The San Diego Union-Tribune.

However, the deal is somewhat a gamble, as Tronc have assumed the company's operational and pension liabilities, estimated at around $30mn, in the hope of turning the Daily News around under its portfolio.

Arthur Browne, the current editor-in-chief, will be staying in that position through the end of the year and has also been named publisher, a tronc news release said Monday night.

The Daily News, which has been owned by real estate developer Mort Zuckerman since 1993, was acquired by Tronc for just $1, plus the assumption of liabilities, according to the Tribune.

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He has faced numerous same publishing challenges as many other newspapers: dwindling sales in print amid a worldwide shift to digital formats.

Trump - for his part - is a known fan of the Daily News' chief rival, The New York Post.

In the past few years, the paper's staff has gone through layoffs and buyouts.

Tronc executives also said they would look to implement the ARC publishing system it has licensed from The Washington Post at the Daily News after it finishes putting it into effect it in other cities. The circulation, which exceeded 2 million in the 1940s, is now in the low hundred thousands. But later that year, Zuckerman took the paper off the market, raising fresh questions about its future. The Company's actual results could also be impacted by the other risks detailed from time to time in its publicly filed documents, including in Item 1A (Risk Factors) of its most recent Annual Report on Form 10-K, in its Quarterly Reports on Form 10-Q and in other reports filed with the Securities and Exchange Commission.

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