» Subscribe Today!
The Power of Information
Home
The Ledger - EST. 1978 - Nashville Edition
X
Skip Navigation LinksHome > Article
VOL. 43 | NO. 46 | Friday, November 15, 2019

Hedge fund Alden becomes Tribune's largest shareholder

Print | Front Page | Email this story

NEW YORK (AP) — Hedge fund Alden Global Capital is now the largest shareholder of Tribune Publishing, the company that owns the Chicago Tribune, Baltimore Sun and New York Daily News.

Tribune says Alden, a hedge fund known for layoffs and slashing costs at newspapers it acquires, purchased the 25% stake from former Tribune chairman Michael Ferro. Tribune says it's talking with Alden about adding two board seats.

Ferro stepped down as chairman in 2018 amid sexual misconduct accusations. His time at Tribune was marked by a much-maligned company name change to "Tronc," later reverted; the sale of the Los Angeles Times; and pushing off an unsolicited merger bid from rival Gannett.

Another newspaper chain, GateHouse, now owns Gannett. The newspaper industry is consolidating as it struggles with a digital transition.

Follow us on Facebook, Twitter & RSS:
Sign-Up For Our FREE email edition
Get the news first with our free weekly email
Name
Email  
TNLedger.com Knoxville Editon
RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0