Newspapers. Former US hedge fund manager Will Wyatt’s new Donerail Group is looking to acquire Tronc (the former Chicago Tribune Group). Donerail’s plan, after purchasing Tronc’s 10 daily newspapers, is believed to be to sell them off to individual buyers, some of whom are already believed to be lined up. Wyatt’s bid for Tronc is rumoured to be in the range of $640-700m. It is widely assumed that Rupert Murdoch’s News Corp has provisionally agreed to acquire the New York Daily News. Consolidation of some kind with his New York Post could produce some elusive profits.