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 →

Tribune braces for the barbarians at the gate as hedge fund Alden takes two new board seats

Real estate sell-off and increased debt are possible outcomes of an Alden takeover By Julie Reynolds One week after Alden Global Capital announced it took a nearly one-third stake in Tribune Publishing, the New York hedge fund appears positioned for… Continue Reading →

The terrible news for Tribune papers and communities: Alden has landed, in a bigger way than we thought

New filing shows “America’s worst newspaper owners” have bought almost a third of the news giant   By Julie Reynolds “The old world is over, and the new one — one of ghost newspapers, news deserts, and underinformed communities —… Continue Reading →

Alden is now Tribune’s largest shareholder

By Julie Reynolds Alden Global Capital, owner of the Digital First Media newspaper chain, has become the largest holder of Tribune Publishing Co. stock, according to Securities and Exchange Commission filings. Tribune publishes the Chicago Tribune, The Baltimore Sun, The… Continue Reading →

New survey reveals the stark reality of working at a hedge-fund-owned newspaper chain

Respondents report Digital First/Alden papers’ job losses far outstrip national averages  By Julie Reynolds “Old equipment, poor morale.” “(We’re) now officeless.” “Horrible. We’re not even a newspaper anymore.” “Constant threat of being laid off.” For the first time, workers at… Continue Reading →

‘Shrouded in suspicion’: Fred’s creditors ask for Alden investigation

UPDATE: A federal bankruptcy judge on Oct. 16 ordered Alden to turn over requested documents to creditors and will allow them to question Alden president Heath Freeman under oath.   By Julie Reynolds Saying hedge fund Alden Global Capital’s acquisition… Continue Reading →

Fred’s Pharmacies closing all stores as hedge fund Alden continues to eliminate thousands of jobs

Alden siphoned local newspapers’ profits to buy its controlling stake in the now-bankrupt drugstore chain   By Julie Reynolds New York hedge fund Alden Global Capital has reached the final chapter in its destruction of another American retail chain, with… Continue Reading →

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As the vultures circle

In the GateHouse-Gannett mega-merger, Alden Global Capital plunders its newspapers’ reserves for another questionable investment   By Julie Reynolds As private equity and hedge fund vultures circle over America’s remaining daily newspapers, it’s getting harder to determine Alden Global Capital’s… Continue Reading →

A Capitol Idea: Calling Out Hedge Funds

Evan Brandt in Washington | Photo, Julie Reynolds   By Evan Brandt Pottstown, PA Sometimes, shouting into the wilderness gets results. As some of you may have seen on Twitter, last week I took a pilgrimage to Washington, D.C. to… Continue Reading →

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