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LA Times, Chicago Tribune owner buys New York Daily News

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Newspaper company Tronc Inc, which owns the Chicago Tribune and the Los Angeles Times, said it acquired the New York Daily News from media and property mogul Mort Zuckerman.

Financial terms of the deal were not disclosed, but a source familiar with the deal said Tronc would assume roughly $30 million of liabilities.

Tronc said late on Monday it would also buy a 49.9 percent interest in a joint venture with Zuckerman-related entities that will own the 25-acre parcel of land on which New York Daily News’ printing facility in New Jersey is located.

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Zuckerman, who first put the New York Daily News on the auction block in February 2015, sought $200 million for the paper at the time.

However, he dropped the plan and said in August 2015 that the newspaper was no longer up for sale. (http://reut.rs/2gADvAe)

Tronc’s predecessor, The Tribune Co, founded the New York Daily News, and with the transaction, Tronc will serve 10 major U.S. markets, Tronc CEO Justin Dearborn said in a statement.

Arthur Browne, current editor-in-chief of the New York Daily News, has also been named as the publisher.

Browne, who previously indicated his intention to retire from the paper, has agreed to stay until the end of 2017 and will report to Tronc President Timothy Knight.

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(Reporting by Sangameswaran S and Rama Venkat Raman in Bengaluru, Liana Baker in San Francisco; Editing by Amrutha Gayathri)


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2020 Election

Mike Bloomberg doesn’t understand he is part of the problem

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The entry of Michael Bloomberg, one the world’s wealthiest men, into the Democratic Presidential primary contest arrives at a moment when Earth is facing growing levels of obscene wealth concentration and income disparity.

This article first appeared in Salon

“Last year 26 people owned the same [amount of wealth] as the 3.8 billion people who make up the poorest half of humanity,” reported Oxfam International in 2018. According to the anti-poverty charity, in the decade since Wall Street’s pillaging of Main Street that induced the Great Recession, “the fortunes of the richest have risen dramatically” with the number of billionaires doubling.The former New York City mayor touts the amassing of his $55.4 billion fortune, starting from a $10-million-dollar buyout he got when he was fired from Salomon Brothers, as one of his top qualifications for the nation’s highest office.

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GOPer Collins battered for demand to postpone Trump impeachment so he can get caught up: ‘Collins doesn’t do his homework’

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On Saturday, Rep. Doug Collins (R-GA), the senior Republican on the House Judiciary Committee made a demand to the Democrats that they postpone Monday's hearing on the impeachment of Donald Trump, saying he needed more time to digest a fifty-plus page report that Democrats released over the weekend.

After tweeting out his demand -- as well as issuing a statement -- the voluble Trump defenders was hammered on his own Twitter feed with commenters telling him do his job and read the report in the meantime.

After Collins tweeted, "Chairman Nadler has no choice but to postpone Monday’s hearing in the wake of a last-minute document transmission that shows just how far Democrats have gone to pervert basic fairness," he got buried in derision.

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Trump’s damage to the federal government is driving voters to turn to more liberal candidates: report

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According to a report from Politico, Donald Trump's tenure has not resulted in voters becoming more conservative, and instead, he is driving them into the arms of more liberal and progressive candidates at the local level who are then using their newfound power to change Democratic policies at the national level.

Trump's negative influence is turning into a positive for those candidates -- particularly in the big cities.

"From New York City to Los Angeles, many of the nation’s biggest cities have turned even harder to the left under President Donald Trump, putting pressure on local officials to embrace the leading progressive presidential candidates — or withhold their endorsements entirely for fear of antagonizing newly energized activists," the report states. "It’s a drastic political shift in some places, where for decades entrenched party bosses crushed any signs of life on the left or tended to put the weight of big-city institutional support behind Democratic establishment-oriented candidates."

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