Page 12 - Michael Ferro News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Chicago-based Tribune Publishing on Tuesday announced a proposed sale to hedge fund Alden Global Capital in a deal valued at $630 million.

Tribune Publishing, publisher of the Chicago Tribune and other newspapers, has agreed to be acquired by Alden Global Capital. The deal would create one of the largest newspaper operators in the United States.

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 properti...

The union representing the Chicago Tribune newsroom has called for the removal of three members of Tribune Publishing’s board who represent Alden Global Capital, the hedge fund trying to buy the newspaper chain and take it private.

Hedge fund Alden Global Capital is looking to buy Tribune Publishing, which owns Capital Gazette, and take the Chicago-based newspaper company private in a deal valued at $520 million. Hedge fund Alden Global Capital is looking to buy Tribune Publishing, which owns Capital Gazette, and take the Chicago-based newspaper company private in a deal valued at $520 million.