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Tribune Shareholders Give OK To Takeover By Cost-Cutting Hedge Fund Alden Global Capital

21.05.2021 - 18:57

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A major hedge fund with a reputation for aggressive cost cutting got the greenlight on Friday to acquire Tribune Publishing, the owner of big city dailies such as The Chicago Tribune, The Baltimore Sun, the Orlando Sentinel and The New York Daily News.Tribune shareholders approved the deal with Alden Global Capital, dashing the hopes of a number of employees at the publications who fear that they will soon see jobs lost and coverage scaled back.

There had been hopes that the largest shareholder of Tribune, Patrick Soon-Shiong, who owns the Los Angeles Times and the San Diego Union Tribune, would try to block the deal, but he abstained from voting.

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etonline.com

14.02.2022 / 03:17

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