The New York-based hedge fund Alden Global Capital – known for slashing its newspapers’ budgets to extract escalated profits – won shareholder approval Friday for its $633 million bid to acquire the Tribune Publishing newspaper chain.
The purchase represents the culmination of Alden’s years-long drive to take over the company and its storied titles – including Chicago Tribune, the Baltimore Sun, New York Daily News and major metro papers from Hartford, Conn. to Fort Lauderdale, Fla.
Source: ‘Vulture’ Fund Alden Global, Known For Slashing Newsrooms, Buys Tribune Papers : NPR
