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On Feb. 16, news broke of Alden Global Capital LLC, a New York hedge fund which backs the parent company of local news outlets like Fitchburg’s Sentinel and Enterprise, The Lowell Sun and the Boston Herald, agreeing to acquire Tribune Publishing Co for about $430 million. Tribune Publishing is the parent company of the Chicago Tribune, as well as a myriad of other newspapers, including the Hartford Courant and the New York Daily News.
Alden is known for making major cuts to the newspapers it owns, including paring back staff and, in some instances, like with the Sentinel and Enterprise and the Courant, shutting down physical office space. The hedge fund’s acquisition of a new newspaper group has worried industry watchdogs concerned about the health of an already dwindling local news ecosystem, with local newspapers of record like the Worcester Telegram & Gazette (owned by Gannett) significantly trimming back their operations.
Always a liberal slant.
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Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
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On Feb. 16, news broke of Alden Global Capital LLC, a New York hedge fund which backs the parent company of local news outlets like Fitchburg’s Sentinel and Enterprise, The Lowell Sun and the Boston Herald, agreeing to acquire Tribune Publishing Co for about $430 million. Tribune Publishing is the parent company of the Chicago Tribune, as well as a myriad of other newspapers, including the Hartford Courant and the New York Daily News.
Alden is known for making major cuts to the newspapers it owns, including paring back staff and, in some instances, like with the Sentinel and Enterprise and the Courant, shutting down physical office space. The hedge fund’s acquisition of a new newspaper group has worried industry watchdogs concerned about the health of an already dwindling local news ecosystem, with local newspapers of record like the Worcester Telegram & Gazette (owned by Gannett) significantly trimming back their operations.