As US newspapers slide toward abyss, a bidding war breaks out arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
As US newspapers slide towards abyss, a bidding war breaks out 01 Apr 2021 / 16:33 H. In this file photo taken on March 11, 2021 the Baltimore Sun building is seen in Baltimore, Maryland. -AFP
WASHINGTON: Even as US newspapers sink toward an abyss, an unusual bidding war has broken out for a major chain, pitting hedge fund operators against civic-minded billionaires seeking to promote a nonprofit model for the struggling industry.
Tribune Publishing, which owns the Chicago Tribune, Baltimore Sun and other big regional dailies, was set to sell the company to Alden Global Capital at a value of $630 million, a move that would expand the news operations of the hedge fund with a reputation for aggressive cutting of newsroom staff.
As US Newspapers Slide Toward Abyss, A Bidding War Breaks Out By Rob Lever
03/31/21 AT 10:20 PM
Even as US newspapers sink toward an abyss, an unusual bidding war has broken out for a major chain, pitting hedge fund operators against civic-minded billionaires seeking to promote a nonprofit model for the struggling industry.
Tribune Publishing, which owns the Chicago Tribune, Baltimore Sun and other big regional dailies, was set to sell the company to Alden Global Capital at a value of $630 million, a move that would expand the news operations of the hedge fund with a reputation for aggressive cutting of newsroom staff.
Thursday, 01 Apr 2021 11:11 PM MYT
The Chicago Tribune building is seen in Chicago April 24, 2013. Reuters pic
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WASHINGTON, April 1 Even as US newspapers sink toward an abyss, an unusual bidding war has broken out for a major chain, pitting hedge fund operators against civic-minded billionaires seeking to promote a non-profit model for the struggling industry.
Tribune Publishing, which owns the
Chicago Tribune, Baltimore Sun and other big regional dailies, was set to sell the company to Alden Global Capital at a value of US$630 million (RM2.6 billion), a move that would expand the news operations of the hedge fund with a reputation for aggressive cutting of newsroom staff.
As US newspapers slide toward abyss, a bidding war breaks out bangkokpost.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bangkokpost.com Daily Mail and Mail on Sunday newspapers.