The Daily Press' parent company buys The Virginian-Pilot and all assets for $34 million in cash,
PilotOnline.com last Tuesday announced that Chicago-based Tronc Inc., parent company of the Daily Press Media Group, purchased The Virginian-Pilot Media Companies LLC for $34 million, from Norfolk-based Landmark Media Enterprises.
Tronc, Inc., is stylized as "Tronc," and was formerly known as Tribune Publishing, an American newspaper print and online media publishing company.
The Daily Press' website, http://www.dailypress.com, reports that the sale was in cash, was effective immediately and included all of The Virginian-Pilot’s publications and properties, including about 460,000 square feet of real estate in multiple properties, notably the Pilot’s main office along Brambleton Avenue in downtown Norfolk, printing and distribution facilities in Virginia Beach on Greenwich Road and satellite offices in Norfolk and North Carolina, according to Tronc.
Tronc also owns the Chicago Tribune, New York Daily News, Baltimore Sun, South Florida Sun-Sentinel, Orlando Sentinel, Hartford (Conn.) Courant and the (Allentown, Pa.) Morning Call and The Daily Press in Newport News, Va. In February, Tronc agreed to sell the Los Angeles Times and San Diego Union-Tribune for $500 million.
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