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"alden global"

Hartford among growing rank of cities demanding answers from Alden Global Capital, “destroyer of newspapers”

UPDATE: On Sept. 14, the Hartford City Council unanimously approved Rossetti’s resolution. Ben Florsheim, the mayor of nearby Middletown, told council members that Alden Global Capital “sounds like a villainous company from a Disney movie,” according to the Hartford Courant…. Continue Reading →

Alden Global Capital and the destruction of local news, told in cartoons

Art by Kirk Anderson For several years, we’ve been running the work of master editorial cartoonist Kirk Anderson, alone or accompanying our stories here at DFMworkers. It’s time to give Kirk’s wit and insight a page of their own. Here,… Continue Reading →

Amid pandemic, Alden Global Capital goes on a buying binge

Media, gambling and travel are the big investments, even as layoffs and furloughs hit Alden’s newspapers across the country   By Julie Reynolds While the rest of the country tightened its belts in the face of the global pandemic, Alden… Continue Reading →

Alden Global Capital’s letter to Illinois Senators Dick Durbin and Tammy Duckworth, annotated

By Julie Reynolds Heath Freeman has come out of hibernation.  The co-founder of vulture hedge fund Alden Global Capital hasn’t spoken to the media in years. He never, ever returns journalists’ calls. When he’s been close to being deposed in… Continue Reading →

Schumer demands answers from Alden Global Capital

Letter highlights offshore investors “shrouded in secrecy” as more lawmakers decry Alden’s impact on local news By Julie Reynolds Senate Minority Leader Chuck Schumer (D-NY) is demanding information from Alden Global Capital President Heath Freeman and calling out the hedge… Continue Reading →

Denver City Council officially calls out newspaper owner Alden Global Capital

Proclamation urges the hedge fund to invest in newsrooms or sell By Julie Reynolds Decrying vulture hedge fund Alden Global Capital’s “devastating effect on local journalism around the nation,” the Denver City Council on Monday unanimously passed a unique proclamation… Continue Reading →

The Alden Global Capital Crazy Wall

In which we map Alden’s layers of shell companies to try to figure out who owns your hometown newspaper By Julie Reynolds Almost every crime movie these days has a crazy wall. It’s one of those bulletin boards detectives put… Continue Reading →

The Alden Matters: Heat turned up on Alden Global Capital in federal court

Heath Freeman and others may face subpoenas, depositions By Julie Reynolds The secretive business practices of Alden Global Capital, owner of the Digital First Media newspaper chain, will soon face scrutiny in a federal bankruptcy court, just weeks after Alden’s… Continue Reading →

Senators blast Alden Global Capital’s “newspaper-killing business model”

By Julie Reynolds Twenty-one prominent US Senators have sent a scathing letter to the founders of Alden Global Capital, decrying its “newspaper-killing business model” and vowing to “continue watching Alden closely.” The letter was sent last week on the eve… Continue Reading →

Who’s the other vulture fund behind Alden Global Capital’s attempted hostile takeover of Gannett?

By Julie Reynolds Vulture hedge fund Alden Global Capital’s efforts to take over the Gannett newspaper chain took some bizarre turns in recent weeks — developments that might seem laughable if not for the danger it poses to the future… Continue Reading →

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