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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 →

The NewsGuild-CWA issues letter to Tribune shareholders urging a NO vote on Alden takeover

By Julie Reynolds The nation’s largest union representing journalists has filed a letter to shareholders with the Securities and Exchange Commission on Tuesday, urging a “no” vote on hedge fund Alden Global Capital’s attempted takeover of Tribune Publishing. The NewsGuild-CWA… Continue Reading →

Tribune could take on massive debt to finance its own takeover

Cash-strapped and banished from its luxury offices, Alden Global Capital has crafted a Faustian bargain to buy the publisher  By Julie Reynolds Alden Global Capital says it can buy Tribune Publishing with surplus cash on hand, but the former New… Continue Reading →

Denver Post newsroom pledges to improve diversity and racial equity, while owner Alden refuses accountability

Staff says hedge fund Alden refused to let paper publish diversity announcement for readers By Julie Reynolds After George Floyd’s killing and the national reckoning on race that followed, journalists at the Denver Post have been meeting regularly to look… Continue Reading →

Alden is undermining a Baltimore philanthropist’s higher bid for Tribune Publishing

Tribune CEO Terry Jimenez was lone voice voting against Alden takeover  By Julie Reynolds Alden Global Capital is aggressively undermining an effort by a Maryland hotel magnate to buy Tribune Publishing and possibly make its papers nonprofit charities, a new… Continue Reading →

Connecticut bill aims to block Hartford Courant’s hedge fund owners from making moves not ‘in the public interest’

A committee of the Connecticut state legislature heard compelling testimony Thursday about the value of The Hartford Courant to the local community and the threat that Alden Global Capital poses to it. “The hedge funds and private equity (newspaper) owners… Continue Reading →

With Tribune chain possibly up for grabs, Pennsylvania lawmakers come out to support local news

By Julie Reynolds Two Pennsylvania lawmakers have made new public statements in support of local journalism and the Allentown Morning Call, a newspaper whose ownership is now up for grabs as a vulture hedge fund’s offer for Tribune Publishing faces… Continue Reading →

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