was it taken over by anyone else afterwards?
Yes, Manchester Boddy
Illustrated Daily News
 Boddy said that with a circulation of 150,000, the paper was profitable even without advertising. By 1932, Boddy had dropped the word "Illustrated" from the name of the paper.
what is 'illustrated daily news'? It was a newspaper published in Los Angeles. who was the founder? Cornelius Vanderbilt IV
wiki:18310474
Illustrated Daily News [SEP] Boddy takes over
By 1929, the "Daily News" was showing a profit, and three years later, amid the Depression, began publishing a broadsheet edition, raising its price from two to three cents. Boddy said that with a circulation of 150,000, the paper was profitable even without advertising. By 1932, Boddy had dropped the word "Illustrated" from the name of the paper.