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Zuckerman selling NYDN, and the price is ugly

Discussion in 'Sports and News' started by Elliotte Friedman, Sep 4, 2017.

  1. Elliotte Friedman

    Elliotte Friedman Moderator Staff Member

    Recode's Peter Kafka has the gruesome details:

    “Under the terms of the deal, Tronc would assume control of The News’s operations, its printing plant in Jersey City and its pension liability, the people briefed on the negotiations said. No cash would change hands. Tronc would also receive a 49.9 percent interest in the 25-acre property overlooking Manhattan where the printing plant is, the people said.”

    When I read that I did a double-take, and then a triple-take: Was Zuckerman really giving away his newspaper, and giving away a printing plant that’s quite valuable to Tronc (which can use it print other East Coast papers it owns) and giving away New York real estate? Just to get out from his liabilities?

    Yes, he is, a person familiar with the deal terms told me.


    The New York Daily News is one of the biggest newspapers in the country and Tronc is buying it for zero dollars
  2. franticscribe

    franticscribe Well-Known Member

    Better than closing it?
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