Page 5 - Michael Ferro News Today

Alden closes $633 million purchase of Tribune Publishing; puts newspaper chain in debt and hedge fund president in charge Robert Channick, Chicago Tribune © Erin Hooley/Erin Hooley A delivery truck is parked at the Freedom Center, the Chicago Tribunes printing and distribution center on March 30, 2021. It didn’t take long for Alden Global Capital to put its imprint — and significant debt — on Tribune Publishing, after closing its $633 million acquisition of the Chicago-...

Alden Global Capital completed its $633 million purchase of Tribune Publishing late Monday, taking the Chicago-based newspaper chain private and adding the Chicago Tribune and other major dailies to the hedge fund’s growing portfolio.

Alden Global Capital has completed its $633 million purchase of Tribune Publishing, taking the Chicago-based newspaper chain private and adding the Chicago Tribune and other major dailies to the hedge fund’s growing portfolio.

Hedge fund Alden closes $633 million Tribune Publishing acquisition Robert Channick, Chicago Tribune © Erin Hooley/Erin Hooley The Freedom Center, the Chicago Tribunes printing and distribution center, can be seen Tuesday, March 30, 2021, in Chicago. There was no public announcement, but regulatory filings indicate Alden Global Capital completed its $633 million purchase of Tribune Publishing late Monday, taking the Chicago-based newspaper chain private and adding the Chicago...

Alden Global Capital completed its $633 million purchase of Tribune Publishing late Monday, taking the Chicago-based newspaper chain private and adding the South Florida Sun Sentinel, Orlando Sentinel, Chicago Tribune and other major dailies to the hedge fund’s growing portfolio.

After the failure of an 11th-hour push to find an alternative buyer, Tribune Publishing shareholders on Friday approved the $633-million sale of the newspaper chain to the New York hedge

Failure to find an alternative buyer dooms a last-ditch effort to keep Tribune Publishing out of the hands of hedge fund Alden Global Capital.

Hedge fund Alden Global Capital, known for making deep newsroom cuts, won approval to acquire Tribune Publishing, which includes the Chicago Tribune, The Baltimore Sun and New York Daily News.

Baltimore Sun reporter Jean Marbella participates in a Save Our Sun rally in March, part of an effort to secure an alternative buyer to Alden Global Capital. Credit: AFP via Getty Images Vulture Fund Alden Global, Known For Slashing Newsrooms, Buys Tribune Papers By at 8:53 am NPR The New York-based hedge fund Alden Global Capital – known for slashing its newspapers budgets to extract escalated profits – won shareholder approval Friday for its $633 m...

As the Tribune newspapers face a possible sale to a hedge fund, some journalists yearn for the biotech billionaire to play another savior role.