Press
Hedge fund Alden to buy Tribune Publishing in deal valued at $630 million
robert channick . FEBRUARY 16, 2021
Tribune Publishing, publisher of the Chicago Tribune and other major newspapers, has agreed to be acquired by Alden Global Capital in a deal valued at $630 million.
Sale Of Tribune Publishing To Alden Global Capital Raises Concerns In Newsrooms
david folkenflik . february 18, 2021
The company which owns the Chicago Tribune, the Baltimore Sun and the Hartford Courant has sold itself to Alden Global Capital, a hedge fund known for slashing its other newspaper holdings.
Alden’s takeover bid for Tribune Publishing faces a fresh challenge from the NewsGuild
Rick edmonds . january 6, 2021
The guild alleges that a Tribune director failed to meet SEC reporting requirements and that Alden ‘colluded’ with an investor.
Robservations: Tribune Guild declares: ‘We are fighting Alden now’
Robert Feder . May 5, 2020
Are the new owners of the Chicago Tribune using the cover of coronavirus to gut the newspaper’s staff?
Boss Flees Slack as Workers Deride Corporate Greed
Laura Wagner . April 30, 2020
Tribune Publishing CEO Terry Jimenez was unwilling to hear from workers facing furloughs and salary cuts.
'Chicago Tribune' Reporters Face Tumultuous Times During Pandemic
David Folkenflik . April 21, 2020
Reporters at the Chicago Tribune are covering stories that put them in close contact with COVID-19. Meanwhile, their pay is being cut and their company is preparing to be taken over by a hedge fund.
Chicago alderman proposes resolution calling on hedge fund Alden officials to appear at City Council committee meeting
John Byrne . February 19, 2020
A Chicago alderman on Wednesday called for representatives of hedge fund Alden Global Capital, Tribune Publishing’s largest shareholder, to appear at a City Council committee hearing to talk about whether the company plans to invest in local journalism
Tribune Buyouts: Mixed Emotions for Longtime Journalists Leaving Company
Nick Blumberg . February 10, 2020
More than a dozen Tribune Publishing journalists in the Chicago area have left the Chicago Tribune, the Daily Southtown and other news outlets owned by the media company.
THE HEDGE FUND VAMPIRE THAT BLEEDS NEWSPAPERS DRY NOW HAS THE CHICAGO TRIBUNE BY THE THROAT
Joe Pompeo . February 5, 2020
In its mission to squeeze the last profits out of newspapers, Alden Global Capital has eliminated the jobs of scores of reporters and editors, and decimated journalism in cities all over the country: Denver, Boston, San Jose, Trenton, etc. Next up: Chicago, Baltimore, and the New York Daily News.
Worried Reporters Make a Plea: Please Buy Our Paper
Marc Tracy . January 26, 2020
As hedge funds take a greater role in newspaper chains, journalists at the Chicago Tribune and elsewhere are sending out an S.O.S.
BONUS! Tribune Writers Mary Wisniewski & Charlie Johnson
Ben Joravsky . January 20 2020
2 Chicago Tribune journalists take the deep dive on the future of the paper in the wake of Alden Global Capital, a hedge fund, buying up a majority share and offering staff buyouts
Will The Chicago Tribune Be the Next Newspaper Picked to the Bone?
David Jackson and Gary Marx . January 19, 2020
Journalists worry that a New York hedge fund with a big stake in the paper will impose draconian cuts, as it has elsewhere.
Tribune Publishing is offering buyouts after hedge fund became largest shareholder
Kerry Flynn . January 13, 2020
Tribune Publishing (TPCO) is offering buyouts to employees for the second time in two years and months after hedge fund Alden Global Capital became the largest shareholder in the company
Chicago Tribune journalists: ‘We need new owners’
BEN BRADLEY AND PATRICK ELWOOD . December 11, 2019
Journalists at the Chicago Tribune have signed a petition to the company’s board of directors pleading for it to consider selling the venerable publisher to a local or civic-minded group.
Baltimore Sun, Chesapeake News Guild raise concerns about new investment from ‘destroyer of newspapers’
Brandon Weigel . December 11, 2019
More than 400 journalists at Tribune Publishing newspapers, including dozens at outlets operated by the Baltimore Sun Media Group, petitioned the company’s board of directors to reaffirm a commitment to local journalism in the wake of investments by Alden Global Capital, once dubbed a “destroyer of newspapers.”
Chicago Tribune staffers raise alarm over new owner's 'troubling record'
Robert Feder . December 11, 2019
The unions representing editorial employees at the Chicago Tribune and other Tribune Publishing newspapers are speaking out against their company’s new largest shareholder.
Tribune workers ask board to support journalism
David Roeder . December 11, 2019
Unionized workers act on worries about hedge fund’s control of parent company.
Hundreds of Tribune employees are protesting Alden Global Capital’s sudden interest in their newspapers
JOSHUA BENTON . December 11, 2019
“We are animated by a serious concern for the future of journalism as a public good and a valuable commodity.”
Column: A letter to the next owner of the Chicago Tribune: We need you.
Mary Schmich . December 5, 2019
I’m writing today on behalf of Tribune journalists past, present and future, all of us who have had — and, with your help, will have — the great fortune of working at one of the greatest newspapers in the world, located in one of the world’s great cities.
Tribune Publishing adds two board seats for Alden; hedge fund’s stake capped at 33% until end of June
ROBERT CHANNICK . DEC 02, 2019
Hedge fund Alden Global Capital, which became the largest shareholder in Tribune Publishing last month, has named two representatives who were added to the newspaper company’s board, while agreeing to cap its ownership stake at 33% through June.
Alden’s investment brings new uncertainty to Tribune Publishing
ROBERT CHANNICK . NOV 22, 2019
When Michael Ferro sold his 25.2% ownership stake in Tribune Publishing to New York hedge fund Alden Global Capital on Tuesday, it marked the abrupt end to one of the more tumultuous ownership chapters in the newspaper chain’s long history.
The unions are (still) coming, and now starting to bargain together
CHRISTINE SCHMIDT . august 12, 2019
Funding, distribution, algorithmic pivots, unionizing: The path to profitability in digital media is far from figured out, but unionization seems to be part of the trend.
Billionaires, Buyouts, and a Newspaper Empire in the Balance: The Continuing Saga of Tronc
Kate Knibbs . September 26, 2018
The media conglomerate formerly known as Tribune Publishing might yet find a savior (or several). But Tronc’s ongoing troubles paint a larger picture of the challenges facing the industry—and the uncertain future of the journalism it produces.
Tronc recognizes Chicago Tribune newsroom union
ROBERT CHANNICK . MAY 06, 2018
Tronc announced Sunday that it has agreed to recognize the Chicago Tribune Guild, the first newsroom union in the newspaper's 171-year history.
In Historic Move At Labor-Skeptic 'Chicago Tribune', Newsroom Pushes To Form Union
David Folkenflik . April 11, 2018
One of the nation's oldest and most prestigious regional newspapers, The Chicago Tribune, could soon have a unionized staff. Wednesday morning, journalists from its newsroom informed management they are preparing to organize and they have collected signatures from dozens of colleagues.
Chicago Tribune news staffers seek to unionize
Robert Channick . April 11, 2018
A group of employees is seeking to form a union in the Chicago Tribune’s newsroom, in what would be a historic move at the 171-year-old newspaper.
Chicago Tribune newsroom staffers announce intent to unionize
Sam Charles and Luke Wilusz . April 11, 2018
Dozens of employees at the Chicago Tribune have announced their intent to unionize the newsroom, which would be a first in the paper’s 170-year history.
Is Tronc about to go on the market?
Ken Doctor . March 22, 2018
Even without the L.A. Times, it still controls a lot of important newspapers. Will it sell them to Gannett, Murdoch, local individuals in each city — or to yet another private equity firm looking to strip papers for parts?
Former Tronc Chairman and Investor Michael Ferro Accused of Inappropriate Advances by Two Women
Kristen Bellstrom and Beth Kowitt . March 19, 2018
Layoffs Hit 'Chicago Tribune' Newsroom
David Folkenflik . March 16, 2018
The Chicago Tribune went through a new round of layoffs on Thursday. The newspaper's parent company Tronc has big plans to change what readers will see on the websites of its newspapers.
Startups, Deals, Parties And Pals: Will News Exec Levinsohn Repeat The Past?
David Folkenflik . March 9, 2018
One of the nation's most important newspaper companies is attempting to shed months of labor strife, leadership crises and financial challenges through profound transformation.
Los Angeles Times CEO and publisher investigated for inappropriate, 'frat-house' behavior
Samantha Schmidt . January 19, 2018
The Los Angeles Times chief executive and publisher is the latest media executive under investigation for inappropriate behavior, following an extensive NPR report.