Let's start with Tronc. First, a sale is the right move. Its independent prospects aren't great after the publisher sold its crown jewel Los Angeles Times and other California papers to shareholder Patrick Soon-Shiong for $500 million earlier this year. That deal was weird for many reasons: Soon-Shiong had a complicated relationship with Tronc, having first been brought in to stave off a hostile takeover by Gannett Co. and then being booted off the board for being "disruptive." During the board dispute, Tronc accused Soon-Shiong of angling to acquire the L.A. Times — which together with the California papers accounts for about 40 percent of adjusted Ebitda — without making a bid for the whole company. And yet, that's exactly what he did, with Tronc's blessing. On top of this, Michael Ferro stepped down as Tronc's chairman amid allegations of sexual misconduct and subsequently attempted to sell his 26 percent stake.