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Gidney N Cloyd

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Gender: Male
Hometown: Elk Grove Vil, IL
Home country: USA
Current location: Here
Member since: Thu Oct 28, 2004, 03:07 PM
Number of posts: 18,379

Journal Archives

Tribune Publishing says Alden bid won shareholders' OK

Source: Chicago Sun-Times

Tribune Publishing directors said Friday shareholders approved Alden Global Capitalís offer to buy the company, heralding a new and uneasy era at the Chicago-based media company and turning aside pleas from its journalists and others who made opposition to the sale into a fight for the soul of journalism.

{snip}

The company announced the result at a special board meeting without giving vote totals. Aldenís $17.25-a-share acquisition will take the 174-year-old company private.

Alden is acquiring the roughly two-thirds of the company that it doesnít already own. Tribune Publishing owns the Chicago Tribune and eight other large dailies.

{snip}

Alden is a New York-based hedge fund widely criticized for accumulating financially troubled newspapers and deeply cutting payroll and selling assets. It already owns about 200 newspapers through a separate company, MediaNews Group, and its Tribune Publishing deal would make it the nationís second-largest publisher behind Gannett.

Read more: https://chicago.suntimes.com/business/2021/5/21/22446605/tribune-publishing-alden-shareholder-vote-takeover



The Trib's op/eds have always been very conservative but their reporting was top notch.
Alden's going to drain the blood out of it and sell the organs.
Posted by Gidney N Cloyd | Fri May 21, 2021, 05:15 PM (4 replies)
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