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Forget local news — casinos, banking and travel are Alden’s new pandemic interests

Why is the hedge fund owner of America’s third-largest newspaper chain investing millions in Las Vegas gaming concerns?   By Julie Reynolds I recently wrote about Alden Global Capital’s multi-million-dollar spring shopping spree as the worldwide pandemic unfolded and as… Continue Reading →

Alden’s allies elected to Tribune’s Board

Move cements Alden’s bid for a Trib merger or takeover come July NOTE: This story has been updated to include The NewsGuild’s response and reported comments from shareholder Mason Slaine. By Julie Reynolds Two directors chosen by hedge fund Alden… 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 →

NewsGuild appeal to Tribune shareholders shines light on Alden’s downsizing, shrinking finances

Effort aims to unseat two Alden-allied board members at Tribune’s annual meeting By Julie Reynolds READ The NewsGuild’s letter here Saying it is “alarmed and concerned,” The NewsGuild has launched a proxy campaign to Tribune Publishing shareholders that raises questions… Continue Reading →

NewsGuild challenges Alden’s Heath Freeman and his letter to Illinois senators

Reply critiques “distortions, misrepresentations, and patently false claims” READ the Guild’s letter to Senators Duckworth and Durbin here By Julie Reynolds In late March, Heath Freeman, whose hedge fund Alden Global Capital owns the country’s third-largest newspaper chain and is… 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 →

Saving Local News in the Time of Coronavirus

The author visiting Heath Freeman’s Montauk manse before a security fence was installed. By Evan Brandt POTTSTOWN, PENNSYLVANIA — It should come as no surprise to any regular readers of this blog that, like other local businesses, local news is… Continue Reading →

MNG/Alden just launched a flurry of layoffs and furloughs as local news readership soars in coronavirus crisis

UPDATES:  April 10: A source tells DFMworkers that the Reading Eagle, which Alden’s Heath Freeman claims to have “saved,” has laid off 19 people. Ten were from the newsroom. Nine additional layoffs were in other departments, no details yet. April… Continue Reading →

Thank a journalist today

Local news reporters perform heroic service in the face of coronavirus By Julie Reynolds Despite near-daily attacks from the president, years of extreme budget cuts by their companies’ hedge fund owners, and the risks they face reporting daily on the… Continue Reading →

The wealth-extraction problem

Taking a deep dive into global finance, private equity and a coming recession with Nicholas Shaxson, author of The Finance Curse   RELATED STORY: The Op-Prop Chop Shop: How hedge funds like Alden extract wealth from companies they ‘invest’ in… Continue Reading →

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