How Alden Global Capital has pillaged the news — a tale in 19 Tweets

Denver Post rally on June 17. Credit: Patrick Traylor

Some people like to say that newspapers are dying, that we shouldn’t blame Digital First Media and its hedge fund owner, Alden Global Capital, for the troubles their 200-plus daily and weekly papers face. We DFM workers get that print is in peril, and that it will take owners with a deep commitment to democracy and journalism — along with a lot of creative hard work — to keep the news alive, independent and vibrant.

But let’s get one thing straight. Hedge funds like Alden have gone FAR above and beyond other media companies in decimating the American newspaper. They’re not laying off reporters and other key staff in a desperate move to keep community papers alive — no, they’re slashing costs and gutting the very infrastructure of the nation’s news business for one reason only: quick, substantial profits for a small, unnamed group of investors.

Here, by the incredible Denver Post sports writer Nick Groke, is an eloquent Twitter-poem that explains all that’s  wrong with Alden Global Capital’s investment in the news.

People in Denver have the wrong impression that The Denver Post is struggling. It's not. The Post made a gob of $ last year, $30ish million.

— Nick Groke (@nickgroke) June 18, 2016

But a few years ago, the company that runs The Post, a piddly outfit mis-named Digital First Media, sold control of its board…

— Nick Groke (@nickgroke) June 18, 2016

…Knowing that Greece will default, they are counting on other nations to bail them out and pay loan shark-level interest premiums to AGC.

— Nick Groke (@nickgroke) June 18, 2016

They're in it to get richer quick and then scram.

— Nick Groke (@nickgroke) June 18, 2016

Heath went to Duke because his dad gave them a bunch of money. Heath was a backup kicker on Duke's football team. He kicked six PATs.

— Nick Groke (@nickgroke) June 18, 2016

And now AGC forced The Post into another round of buyouts (a sanded down term for GTFO).

— Nick Groke (@nickgroke) June 18, 2016

Heath Bradford Freeman, on the other hand, is a small, worthless footnote on an otherwise grand timeline.

— Nick Groke (@nickgroke) June 18, 2016

And that won't end.

— Nick Groke (@nickgroke) June 18, 2016

…those people did and do important, wonderful work.

— Nick Groke (@nickgroke) June 18, 2016