Tronc (TRNC) , the third-largest U.S. newspaper company, is closing in on a deal to buy Us Weekly from Jann Wenner’s Wenner Media. The purchase price likely would be in the $85 million to $95 million range, sources said, with Tronc chairman Michael Ferro believing the acquisition will move Tronc toward becoming a major player in the celebrity news business and add both to its digital earnings and its digital transformation credibility.
NOTHING says credibility like Us Weekly.
Air Ferro: Latest@tronc financials show $2.7M in leased jet charges, equiv of 317 hrs at $8500/hour, = entire retail ad increase in 2016
So, an hour = roughly a month and a half of an experienced reporter’s salary.
I don’t want to hear anymore about how the Internet is killing newspapers, please.
A.