Reporters at the Chicago Tribune are trying to find a new owner for their newspaper. They're doing it because they're afraid of Alden Global Capital's plans for all of the papers owned by Tribune Publishing.
They're doing it because they're afraid of Alden Global Capital's plans for all of the papers owned by Tribune Publishing.Alden, a New York-based hedge fund, recently became the largest shareholder in the struggling publishing company. Alden has a terrible reputation in the newspaper industry due to its history of slashing jobs and sucking up short-term profits from other papers it controls.
"We believe that Alden is an existential threat, not just to this newspaper but to every newspaper in the chain," Marx said.Alden increased its ownership stake in Tribune to 32% last November. Hundreds of Tribune staffers responded with a letter decrying the hedge fund.'We're not martyrs. We just really like journalism.'The anti-Alden editorial was published in The New York Times, not in the paper where the reporters work.
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