News. The Nasdaq quoted, Chicago-based media company Tronc Inc. (formerly known as Tribune Publishing) has acquired Virginian-Pilot Media, which publishes Virginia’s largest daily newspaper, for $34m in cash. The acquisition, from Landmark Media Enterprises, includes The Virginian-Pilot, PilotOnline.com and Pilot Targeted Media. The newspaper serves communities including Norfolk and Virginia Beach, the state’s largest city. Tronc’s other daily news brands include some of America’s best known, notably the Los Angeles Times, New York Daily News, the Baltimore Sun and the San Diego Union-Tribune. Before the Virginian-Pilot deal, Tronc acquired BestReviews. com but failed to net the Palm Beach Post and Palm Beach Daily News, which were bought from Cox by Gatehouse Media for $49m. But Tronc is both a buyer and seller of major news brands. Next week, the company’s one-time vice chairman is expected finally to complete his much-delayed $600m acquisition of the Los Angeles Times and San Diego Union-Tribune. No wonder observers are confused about the company’s strategy in the two years since Tribune became Tronc. That’s why many are predicting that it’s only a matter of time before Tronc itself is sold.
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Tronc buys Virginia daily paper for $34m
