Boddy spent less and less time at the newspaper as he focused his energies on his estate, Descanso Gardens, in La Cañada, California, a suburb of Los Angeles. He eventually turned the day-to-day operations over to his general manager, Robert L. Smith. Without Boddy, the newspaper lost its spunk and no longer tilted at windmills, reported newspaper researcher and writer Rob L. Wagner. By the fall of 1953, the Daily News was losing $75,000 a month, and it folded in December 1954. The assets were purchased by the Times Mirror Company. The Los Angeles Mirror, a Times-owned afternoon tabloid newspaper, took the Daily News name to become the Mirror-News.
