ESOP Advisory
Kroll’s Transaction Opinions Practice Advised the Trustee of the Paddock Publications, Inc. Employee Stock Ownership Plan on the Sale of the Daily Herald to the Chicago Tribune
July 3, 2026
On June 22, 2026, Paddock Publications, Inc., the parent company of the Daily Herald, closed the sale of the Daily Herald to Tribune Publishing Company, LLC, the publisher of the Chicago Tribune and a subsidiary of Alden Global Capital.
Kroll’s Transaction Opinions practice advised the Trustee of the Paddock Publications, Inc. Employee Stock Ownership Plan and provided a fairness opinion in connection with the sale of the Daily Herald to the Chicago Tribune.
About Paddock Publications, Inc.
Paddock Publications, Inc. is a privately held, employee-owned media and publishing company based in Illinois. The company is best known as the publisher of the Daily Herald, which serves the Chicago suburban market through print and digital news publications. Founded in 1898, Paddock Publications operates in newspaper publishing, media, advertising, and related digital content services.
About the Daily Herald
The Daily Herald is a suburban Chicago-based daily newspaper published by Paddock Publications, Inc. It serves readers across Cook, DuPage, Kane, Lake, and McHenry counties in Illinois, providing local, national, and international news coverage through print and digital platforms. The publication is headquartered in Arlington Heights, Illinois.
About Tribune Publishing Company
The Tribune Publishing network publishes 77 daily and more than 150 weekly publications throughout the United States, including the Chicago Tribune, Orlando Sentinel, South Florida’s SunSentinel, Virginia’s DailyPress, The Virginian-Pilot, The Morning Call of Lehigh Valley, Pennsylvania, and the Hartford Courant. In print and online, its publications reach a combined network audience of 47.2 million every month.
About Chicago Tribune
Founded in 1847, the Chicago Tribune is a leading daily newspaper serving the Chicago metropolitan area through print and digital platforms, recognized for its award-winning journalism and comprehensive coverage of local, national and international news, business, sports and culture.
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