The shadow of hedge fund and corporate ownership leaves newsrooms in fear they’ll be picked clean
By Gretchen A. Peck
This summer, Alden Global Capital acquired Tribune Publishing and its titles, from small community newspapers to major metro titles like its flagship, The Chicago Tribune, and The Baltimore Sun. It wasn’t the first newspaper acquisition for this hedge fund firm, nor is it the only firm of its kind eyeing the nation’s newspapers. But this acquisition was profound, making Alden Global Capital the owner, in effect, of more than 200 newspapers across the land. It was a deal rife with drama, as the Tribune newsrooms publicly pleaded for some other savior. In the end, no eccentric billionaire philanthropist descended on the scene to save them. Instead, the newsrooms steeled themselves for the future.
Read on at Editor & Publisher magazine.