Tronc, which owns the Hartford Courant, the Los Angeles Times, Baltimore Sun and Chicago Tribune, has purchased the New York Daily News for $1 and assumption of all the paper’s liabilities.
Although the power and profitability of the News has diminished since the dawn of the internet, the acquisition by Tronc is still seen as a strong business move, giving the chain properties in NYC, Chicago, and Los Angeles. The move may also lead to job losses in Hartford. The New York Times is reporting Tronc would like to move Connecticut printing operations to New Jersey.
Tronc also expects to save money by using the plant in Jersey City to print The Hartford Courant and The Morning Call of Allentown, Pa., according to people briefed on the negotiations. Such an arrangement could be worth millions of dollars annually.