Tribune Publishing Company agreed to be acquired by hedge fund Alden Global yesterday in a deal valued at $630M. Tribune owns a wide range of local and regional media companies, including the Chicago Tribune, New York Daily News, The Baltimore Sun, and several others. Alden owned a 32% stake in Tribune prior to the acquisition.
More context: The transaction marks the second recent acquisition of a large-scale local news publisher, following Chatham Asset Management’s bankruptcy acquisition of McClatchy last year.
The New Paper
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