It may be down to the wire but we will not stop.” Sheehan, a reporter at another Tribune title, The Morning Call in Allentown, Pennsylvania, tweeted in response, “All of us have been working for months to get new owners that can help us escape ownership by the worst hedge fund in America. Someone who can treat the newspaper as a public trust, not simply as a property from which to squeeze every last bit of possible profit.” He said the Daily News deserves “a New York owner, someone who knows the city and embraces the paper’s 102-year legacy, who hears the voices of the five boroughs shouting from every page and our website. He offered up a snappy tabloid headline for the story: “DAILY NEWS NEEDS NEW OWNER.” McShane is the latest reporter to add his voice, in a rather remarkable way, right in the paper. Swiss billionaire Hansjörg Wyss had signaled interest in taking over the Chicago Tribune earlier this year, but he dropped out of the process last month. “Chicago, we need help to save the Chicago Tribune.” We are near the end,” Chicago Tribune reporter Gregory Pratt wrote on Twitter last week. “My colleagues across the country in Tribune Publishing have warned about Alden buying our company since November 2019. The New York Daily News, Chicago Tribune, Baltimore Sun, Orlando Sentinel, and other local stalwarts are all affected. maneuvered to make his own bid for the newspaper publisher.īut time is running out, and the Alden deal appears to be on track. Since then, there have been numerous twists and turns, as the Maryland real estate mogul Stewart Bainum Jr. In February the Tribune board accepted a bid for Alden to acquire the rest of the company in a deal valued at $630 million. It is quite an unusual sight: A headline that says “Please buy this newspaper” right in the pages, reporters at Tribune-owned papers have been fighting against Alden for more than a year now.Īlden already owns about a third of Tribune, making it the company’s largest shareholder. In the pages of today's NY Daily News, reporter asks for a local owner to "please buy this newspaper" and rescue it from "visiting vulture" Alden /kTn6ZtusSP- Brian Stelter May 5, 2021 The Denver Post made national news in 2018 for revolting against such cuts. Indeed, the New York City-based Alden has become known for buying up troubled newspapers and then subjecting the staff to deep job cuts. He writes, “To folks like me, veterans of local journalism, and for people like you, who appreciate what local journalism offers, this constitutes an emergency.” McShane’s column calls Alden a “notorious hedge fund known for decimating newspapers like the Denver Post before picking the bones for profit.” McShane and many of his colleagues fear that Tribune’s current path, a takeover by Alden Global Capital, will cause further harm to the paper. In Wednesday’s edition of the New York Daily News, reporter Larry McShane practically begs someone local to “step up and save New York’s Hometown Paper.” (TPCO) Publishing’s newspapers is coming from inside the pages of a Tribune The latest plea for a break-up of Tribune
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