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Tribune agrees to purchase by hedge fund for USD630M » Borneo Bulletin Online


The
Baltimore Sun is not included in the deal. It will be sold to a non-profit formed by businessman and philanthropist Stewart Bainum Jr that will run the paper “for the benefit of the community”, the
Sun wrote on Tuesday.
The success of the Tribune deal hinges on securing the votes of biotech billionaire and
Los Angeles Times owner Patrick Soon-Shiong, who owns about 24 per cent of Tribune Publishing, and shareholder Mason Slaine, a former media executive who owns about eight per cent, according to the
Chicago Tribune. Slaine and a representative for Soon-Shiong did not immediately respond to requests for comment on Tuesday. ....

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Alden Global Capital wants to take another big bite out of Tribune Publishing


The iconic Chicago Tribune Tower, sold for mixed-use development in 2016.
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It looks like 2020 is going to end on a suitably terrible note for the future of local and regional news.
The New York-based hedge fund Alden Global Capital, notorious for depriving its newspaper chain of staff, resources and even office space, is planning to make a play for majority control of Tribune Publishing Co., which owns such storied titles as the Chicago Tribune, The Baltimore Sun and New York’s Daily News. The Wall Street Journal broke the news on Wednesday. ....

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