Applying shareholder squeeze, vulture capital firm Alden Global grabs four Pennsylvania papers
Heath Freeman’s vulture capital firm Alden Global Capital — infamous for its draconian staff cuts meant to enrich him and Alden’s board members — has bought Times-Shamrock Communications’, a Pennsylvania-based media company owned by the Lynett and Haggerty families, newspaper group. The acquired papers include: The Times-Tribune The Citizens’ Voice The Republican Herald The Standard […]
Hedge fund seeks to acquire Lee Enterprises
Alden Global Capital, the New York-based hedge fund known for gutting newsrooms, is in a bid to buy Lee Enterprises. As per reports, in a letter to Lee shareholders, Alden proposed acquiring the company for $24 per share, which it said represents approximately 30 percent premium on Lee’s closing stock price of $18.49 last Friday. […]
Hedge fund to acquire Tribune in multimillion-dollar deal
Alden Global Capital, a hedge fund known for restructuring at local newspapers, is acquiring the remainder of Tribune Publishing. The remaining buyout will give Alden 68 percent of the shares it does not already own in the Tribune for roughly $431 million, per The Chicago Tribune — valuing the full company at $630 million, reports […]
