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Tribune Publishing Acquired by Hedge Fund Alden Global; Baltimore Sun Will Go to Nonprofit

HeadlineFeb 17, 2021

In media news, the hedge fund Alden Global Capital has struck a deal to fully acquire Tribune Publishing, publisher of the Chicago Tribune and other major publications. Jon Schleuss, president of the NewsGuild, tweeted, “A terrible deal for the company, the workers, the shareholders and our democracy. Alden is only interested in extreme short-term profits by cutting everything to the bone. They have no long-term plan. #SaveLocalNews.” However, some Tribune papers, including The Baltimore Sun and the Capital Gazette, will instead be acquired by a nonprofit formed by hotel executive Stewart Bainum Jr.

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