A tale of two amendments in Uvalde
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The devastating Texas-storm story centers Ted Cruz
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Chicago Tribune, the New York Daily News, and the
Hartford Courant, as well as other local newspapers in Pennsylvania, Maryland, Virginia, and Florida. Tribune already counted Alden as its largest shareholder; Alden was offering $14.25 per share to take full control of the company. Yesterday, following weeks of wrangling, Tribune announced its intention to sell to Alden at $17.25 per share. The deal as a whole is valued at $630 million, and would take Tribune private.
Alden has become notorious and widely reviled for its tactic of ruthlessly slashing costs at its existing media properties; in 2018, staffers at the
Denver Post, where management had just moved to cut thirty jobs, assailed their owners as “vultures” in an editorial that resonated across the media industry. “Media observers note that they make cuts almost from day one. Pens and notebooks disappear from newsrooms. One newsroom was missing hot water. Then newspaper buildings are sold, and staff is consolidated