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February 17, 2021

Tribune Publishing Acquired by Hedge Fund Alden Global; Baltimore Sun Will Go to Nonprofit
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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 News Guild,
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.
#Save Local News." 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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