In December, Alden Global Capital, a New York City hedge fund and media investor, confirmed, in a filing with the Securities and Exchange Commission, that it was looking to acquire Tribune Publishing, which owns the Chicago Tribune, the New York Daily News, and the Hartford Courant, as well as other local newspapers in Pennsylvania, Maryland, Virginia, and Florida. Tribune already counted Alden as its largest shareholder; Alden was offering $14.25 per share to take full control of the company. Yesterday, following weeks of wrangling, Tribune announced its intention to sell to Alden at $17.25 per share. The deal as a whole is valued at $630 million, and would take Tribune private. Alden has become notorious—and widely reviled—for its tactic of ruthlessly slashing costs at its existing media properties; in 2018, staffers at the Denver Post, where management had just moved to cut thirty jobs, assailed their owners as “vultures” in an editorial that resonated across the media industry. “Media observers note that they make cuts almost from day one. Pens and notebooks disappear from newsrooms. One newsroom was missing hot water. Then newspaper buildings are sold, and staff is consolidated and cut,” CJR’s Savannah Jacobson wrote in a profile of Alden last year. “Despite earning higher profits than is typical in the industry, the NewsGuild says that between 2012 and 2019, Alden cut 71 percent of jobs in the hedge fund’s Guild-represented newsrooms.” (In their rare public... Continue reading at 'Columbia Journalism Review'
[ Columbia Journalism Review | 2021-02-17 13:33:35 UTC ]
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Two top executives at newspaper publisher Tribune are stepping down as the company deals with its largest shareholder, a hedge Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-02-19 18:55:53 UTC ]
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An eerily portentous action thriller, a moody crime novel, a trip back in time, a P.I. on the brink and more. Continue reading at The Washington Post
[ The Washington Post | 2020-02-17 14:00:00 UTC ]
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On Thursday, McClatchy—the publicly-traded owner of 30 local newspapers, including the Miami Herald, the Charlotte Observer, and the Kansas City Star—filed for bankruptcy. The company will continue to operate, but is seeking relief from debt and pension obligations; if that goes to plan, it’ll... Continue reading at Columbia Journalism Review
[ Columbia Journalism Review | 2020-02-17 13:11:10 UTC ]
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Two top executives at newspaper publisher Tribune are stepping down as the company deals with its largest shareholder, a hedge fund known for cutting newsroom jobs, and navigates the ongoing shift to online media Continue reading at ABC News
[ ABC News | 2020-02-03 23:48:57 UTC ]
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Christopher Knowlton posits that the state’s real estate bubble led to the Great Depression. Continue reading at The Washington Post
[ The Washington Post | 2020-01-31 19:10:52 UTC ]
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The copy of Françoise Frenkel’s No Place to Lay One’s Head that was recently found, I’m told, in Nice, in an Emmaus Companions charity jumble sale, had a curious effect on me. Perhaps because it had been printed in Switzerland in September 1945 for Geneva-based publishers Jeheber. That... Continue reading at Literrary Hub
[ Literrary Hub | 2020-01-27 09:49:55 UTC ]
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Maryland’s largest city, once nicknamed the City That Reads, will host ABA’s leading educational conference. Continue reading at Publishers Weekly
[ Publishers Weekly | 2020-01-10 05:00:00 UTC ]
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U.K. newspaper The Sun quietly launched a free U.S. website on Wednesday morning as News Corp tries to take advantage Continue reading at Editor & Publisher
[ Editor & Publisher | 2020-01-08 22:45:38 UTC ]
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Tribune Publishing Company (NASDAQ: TPCO), one of the nation’s leading media companies, today announced that funds managed by Alden Global Continue reading at Editor & Publisher
[ Editor & Publisher | 2019-11-20 15:37:42 UTC ]
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Digital media company Minute Media is in talks to buy the Players’ Tribune, a website started by former baseball star Derek Jeter, according to people familiar with the matter. While the companies... To view the full story, click the title link. Continue reading at Crains New York
[ Crains New York | 2019-11-07 10:57:10 UTC ]
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HarperCollins and newspaper The Sun have partnered up to hand out two million free books to school children across England, Wales and Northern Ireland. Continue reading at The Bookseller
[ The Bookseller | 2019-10-31 18:36:19 UTC ]
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First, can we all agree that it should be “lit-fluencer”? Moving on: 1. “Gertrude Stein had time to read books. But do moms?” 2. “Owens’s dinner will be in a decidedly lower key: a gingham tablecloth, uniformed servers passing out pigs in blankets, Zibby’s kids popping in occasionally to whisper... Continue reading at Literrary Hub
[ Literrary Hub | 2019-09-17 19:31:52 UTC ]
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"We are building a more franchise approach to content," said Edward Bearryman, head of content and communities at News UK. "As many brands in the digital space find, bringing in audiences with content is easy, but digital content brands can struggle with loyalty." The post How The Sun’s fantasy... Continue reading at Digiday
[ Digiday | 2019-08-29 04:00:39 UTC ]
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W. Somerset Maugham’s 1928 novel is thought to be the first modern espionage novel. Continue reading at The Washington Post
[ The Washington Post | 2019-07-31 17:07:29 UTC ]
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Subscription book boxes for kids provide publishers and booksellers with a new revenue stream. Continue reading at Publishers Weekly
[ Publishers Weekly | 2019-07-19 04:00:00 UTC ]
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The News Corp tabloid newspaper the Herald Sun is offering journalists a financial bonus of between $10 and $50 for Continue reading at Editor & Publisher
[ Editor & Publisher | 2019-06-24 15:22:05 UTC ]
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Reporters to be financially rewarded if readers subscribe to site and reach certain number of page views The News Corp tabloid newspaper the Herald Sun is offering journalists a financial bonus of between $10 and $50 for driving digital subscriptions and traffic through their own stories.If... Continue reading at The Guardian
[ The Guardian | 2019-06-24 06:04:56 UTC ]
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An attorney for former Baltimore Mayor Catherine Pugh said she has now fulfilled her end of a 2017 deal in which the University of Maryland Medical System paid her $100,000 for 20,000 copies of her self-published “Healthy Holly” children’s books. Pugh “has 100 percent performed her... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-06-11 09:00:00 UTC ]
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The TV audience in Baltimore for Saturday’s Preakness race was down 10.65 percent compared with that in 2018. Those are household figures from Nielsen that measure the size of the audience during the actual running of the race. They are provided by WBAL-TV, the NBC affiliate that aired NBC’s... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-05-20 13:50:00 UTC ]
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The TV audience in Baltimore for Saturday’s Preakness race was down 10.65 percent compared with that in 2018. Those are household figures from Nielsen that measure the size of the audience during the actual running of the race. They are provided by WBAL-TV, the NBC affiliate that aired NBC’s... Continue reading at Baltimore Sun
[ Baltimore Sun | 2019-05-20 13:50:00 UTC ]
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