Tag: media

Vulture hedge fund can’t stop Chicago’s media ecosystem from thriving

When Alden Global Capital bought Tribune Publishing in May 2021 and slashed Chicago Tribune newsroom staff to bare bones, few media experts and Chicago journalists were surprised.   “Years of poor management” at Tribune Publishing paved the way for Alden, said Brant Houston, professor and Knight chair in investigative and enterprise reporting at the University of

Lee Enterprises after Alden

“The model is simple,” declared The Atlantic in its cover story for the November 2021 issue. “Gut the staff, sell the real estate, jack up subscription prices, and wring out as much cash as possible.” The author of the piece, Atlantic staff writer McKay Coppins, was writing about Alden Global Capital LLC, the widely-feared buyout

The Alden effect – Nonprofit news on the rise

In its voracious drive to apparently consume as many U.S. newspapers as possible, the so-called vulture capitalist Alden Global Capital recently bought the San Diego Union Tribune and a group of associated newsrooms in southern California. Reports on the purchase focused on the inevitable results of Alden Global acquiring newsrooms: immediate decimation of the staff,