Tronc buys NY Daily News for.....$1

Tronc - aka the ridiculous name for the Tribune Company - has purchased the NY Daily News.

The sale price? $1.

One. Fucking. Dollar.

Yeah, Tribune (I refuse to call it Tronc more than once) is assuming all of the debts and pensions, but still.

Tronc acquires New York Daily News

 

Ugh. This seems to be the definition of better to reside with the devil you know.

 

Luckily, a photographer was able to sneak in a shot of the negotiations

 

Not to pick nits, but you called it Tronc more than once.

 

The NYDN started out as part of the Tribune empire.

 

One of my favorite Robocop scenes. Priceless.

 

I guess the "What's-in-it-for-Tronc" part is the printing facility, which would allow them to print the Hartford Courant and Allentown Morning Call in NYC and close those presses.

 

At that price, hope Tronc gets its money's worth.

 

Not to be that guy, but the dollar is only a token. The real acquisition price is the dollar plus whatever sizable debt the NYDN has.

Zuckerman unloads his burden, Tronc acquires an outpost in the nation's No. 1 market. It's not a bad move — on paper, anyway — for either side. The real trick, of course, will be for the new owner to leverage having properties in the country's three biggest markets to find national advertisers who want a one-stop shop (and a likely discount for volume) to showcase their wares.

I honestly don't think that matters that much anymore, though.

 

Costs me 1.25 for the Daily News in NJ.

 

Now that's funny.