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Tronc's largest shareholder sells off stake at 34% premium

Tronc Inc.'s TRNC, +four.19% largest shareholder sold off its entire stake for 34% above the inventory's final value, according to a Securities and Exchange Commission filing late Friday. Tronc shares rose zero.6% after hours, following a four.2% achieve to near at $17.15 in the regular session. Merrick Media, Merrick Venture Management and Michael Ferro Jr. sold a complete of 9.07 million shares of Tronc to McCormick Media LLC for $23 a percentage, according to a SEC filing. Tronc has 35.7 million shares outstanding.