Tax issues and restructuring costs weighed on the bottom line. Tronc took a one-time, $10.8-million deduction in deferred tax assets because of the changes to U.S. tax code. The company also had restructuring costs, in part because of its decision to outsource its information technology department and payments for vacant office space. It also incurred costs related to "completed and potential acquisitions," according to its filing with the Securities & Exchange Commission.

Source: Los Angeles Times March 07, 2018 22:00 UTC