A big shakeup in the newspaper business: the Daily News has a new owner.
Chicago-based publisher Tronc acquired the legendary tabloid from real estate magnate Mort Zuckerman, who owned the paper since 1993.
Tronc paid a single dollar for the paper, and it will also assume the News' operational and pension liabilities.
Former co-publisher Eric Gertler says he thinks the paper is in good hands.
"It was important that we found someone that wanted to continue the newspaper and understood newspapers, and I think we found a wonderful owner who will, we believe, continue the traditions of the Daily News," Gertler said. "I have no doubt that New Yorkers will continue to see the paper in the streets and see that distinctive and read that distinctive voice, and that the paper will continue to provide that voice for New Yorkers that have lacked one."
Tronc and its predecessor companies have been through a lot of changes in recent years, but it is a company that knows the local news business. Tronc also operates the Los Angeles Times, Chicago Tribune and the Baltimore Sun.