Tronc posts 2Q profit
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Tronc Inc. on Wednesday reported second-quarter profit of $4.1 million.
The Chicago-based company said it had profit of 12 cents per share. Earnings, adjusted for restructuring costs and non-recurring costs, were 35 cents per share.
The media company posted revenue of $404.5 million in the period.
Tronc expects full-year revenue in the range of $1.61 billion to $1.63 billion.
Tronc owns newspapers including the Chicago Tribune and Los Angeles Times. Formerly known as Tribune Publishing, the company changed its name in June. Tronc stands for Tribune online content, the company says.
USA Today owner Gannett Co. has tried to buy Tronc, offering $864 million for the company.
Tronc shares have climbed 63 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $15, a rise of nearly 2 percent in the past 12 months.