The NewsGuild urges public pension funds to divest from Cerberus

The shadow bank’s legacy includes controversial investments, lawsuits and financing the destruction of local news By Julie Reynolds Citing a New York shadow bank’s dual track record of “funding gun violence and death” and the destruction of local news, the… Continue Reading →

NewsGuild to Lee Shareholders: Reject Alden’s ‘Vote No’ Campaign

By Sally Davidow, The NewsGuild The NewsGuild-CWA is urging shareholders of Lee Enterprises to rebuff the latest moves by Alden Global Capital to take control of the company. In a March 1 letter, NewsGuild President Jon Schleuss urged “fellow shareholders” to… Continue Reading →

When a hedge fund’s shell game backfires: Lee strikes back at Alden after courtroom victory

By Julie Reynolds In a stunning Securities and Exchange Commission filing, Lee Enterprises took a big swing at Alden Global Capital, the hedge fund attempting a hostile takeover of the news chain. The filing comes days after a Delaware chancery… Continue Reading →

Guild members ask retirement systems to stop supporting the destruction of local news

Numerous public pension funds have invested in Cerberus, the ‘shadow banker’ behind Alden Global Capital   Members of The NewsGuild are speaking out to public pension funds about their support of a company that has financed the destruction of local news…. Continue Reading →

How is Alden Global Capital going to pay for a takeover of Lee Enterprises?  

Alden’s sleight-of-hand bid demands a closer look UPDATE, 11/25/2021: Lee Enterprises has enacted a plan to keep Alden from buying more than 10% of the company to give Lee more time to consider the takeover offer. By Julie Reynolds The… Continue Reading →

NewsGuild urges public pension funds to divest from Cerberus, citing the firm’s role in the destruction of local news

By Julie Reynolds Saying their investments are “enabling the destruction of local news,” The NewsGuild-CWA is calling on two of the nation’s largest public pension plans to consider divesting from the private equity firm Cerberus Capital Management. In letters sent… Continue Reading →

FROM NIEMAN LAB: The “shadow bank” that — with the help of public pension funds — is aiding the destruction of local news

Cerberus Capital Management is entrenched in the military industrial complex and its company trained a journalist’s assassins. It also made possible the takeover of Tribune Publishing.   By Julia Reynolds   To the ancient Greeks, Cerberus was the hound of Hades, a… Continue Reading →

Tribune papers lose more than 89 positions under staff buyouts

Hedge fund Alden empties newsrooms right after Tribune takeover  By Julie Reynolds   The bells have tolled and the numbers are grim. This week, scores of Tribune Publishing employees accepted buyouts that were offered immediately after vulture hedge fund Alden… Continue Reading →

From Nieman Lab: Alden Global Capital and Tribune’s board are dancing at the edge of the law

Tribune board members acted in their own interests, not their newspaper chain’s, while Alden failed to disclose a secret investor meeting and misrepresented its cash position.   By JULIE REYNOLDS June 22, 2021, 1:12 p.m.   The ink wasn’t dry, but the… Continue Reading →

Patrick Soon-Shiong has some explaining to do

Tribune announces Alden has successfully taken over, but the intentions of the man whose vote counts most remain unclear By Julie Reynolds Tribune Publishing officials said Friday that shareholders quickly voted to approve a takeover of the storied newspaper chain… Continue Reading →

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