The New Paper

February 17, 2021

Tribune Publishing sells remaining stake to hedge fund Alden

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.
This story is from the February 17, 2021 edition of The New Paper – a clear, concise daily briefing that makes fact-first news easy to consume. Try it today.