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Alden/MNG is quietly buying a small Minnesota newspaper chain

UPDATE: Read the purchase announcement here. By Deena Winter MNG Enterprises is buying a family-owned Minnesota newspaper company called Big Fish Works that owns 11 Minnesota newspapers, most of them weeklies, including eight in the western suburbs of Minneapolis. MNG… Continue Reading →

Alden owner is deeply in Trump’s camp now

Hedge fund founder Randall Smith and his wife gave $100,000 to the president’s 2020 joint fundraising committee By Julie Reynolds On a sweltering July afternoon last year, Sen. Elizabeth Warren unveiled proposed legislation aimed at making hedge funds and private… Continue Reading →

Digital First managers left employees’ personnel files in empty building

Pottstown Mercury files included Social Security numbers, home addresses and other private data By Julie Reynolds Employees’ personnel records and private data were left behind and exposed when executives of MediaNews Group (formerly called Digital First Media) hastily abandoned the… Continue Reading →

Now Alden is circling Lee newspapers

Cash from understaffed DFM papers was used to finance stock purchase   By Julie Reynolds Alden Global Capital, the New York vulture hedge fund gutting Digital First Media newspapers, has acquired a $9.2 million stake in one of its rivals,… Continue Reading →

Journalists’ resistance grows over Alden’s attempt to take over Tribune newspapers

| Adobe Stock photo Investigative reporters’ New York Times op-ed calls for new owners at The Chicago Tribune   By Julie Reynolds Two senior members of the Chicago Tribune’s investigative reporting team have taken a bold step in the escalating… Continue Reading →

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 →

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