Tribune Media

Tribune Media sells Long Island property for $54.5 million

Newsday headquarters in Long Island, New York.
The Newsday headquarters in Melville, New York. Photo: Jonathan Fickies/Getty Images.

Tribune Media sold a 48-acre parcel to Hartz Mountain Industries for $54.5 million — 32 acres of it housed the former office and printing operations for Newsday.

The details: When Hartz emerged to be the likely winner of the bid, the developer said it plans to demolish the more than 413,500-square-foot facility and build “state-of-the-art” warehouse and distribution space in its place, according to Newsday.

Tronc reverts back to its old name after years of ridicule

Chicago Tribune building.
Flags fly along the Michigan Avenue bridge near the Tribune Tower, home of the Chicago Tribune, WGN Radio and the Tribune Company. Photo: Scott Olson/Getty Images

Tronc, short for "Tribune Online Content" is reverting back to its old name, "Tribune Publishing Co.," after years of criticism from pundits, investors and the media elite, the Chicago Tribune reports.

Why it matters: The name change comes amid rumors that the company is exploring a sale.