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A Slow Death for Tribune Newspapers

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Serii arhivate ("Sursă inactivă" status)

When? This feed was archived on July 14, 2023 12:23 (9M ago). Last successful fetch was on April 21, 2022 11:28 (2y ago)

Why? Sursă inactivă status. Servele noastre nu au putut să preia o sursă valida de podcast pentru o perioadă îndelungată.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 293353564 series 2795548
Content provided by The Modern Fire and James brown. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Modern Fire and James brown or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Another dark day for one of the largest newspaper publishers in the country.

Alden Global Capital is buying Tribune …… a publishing company whose papers include The Chicago Tribune, The Baltimore Sun, The Orlando Sentinel, The New York Daily News, among others.

The deal is valued at six hundred thirty million dollars

Why all the gloom? It’s because of who the buyer is. The hedge fund’s nickname is the destroyer of newspapers. And last year Vanity Fair called Alden the “hedge fund vampire that bleeds newspapers dry.” CNN recently called it a “corporate strip miner”

Alden owns about 200 newspapers and often slashes newsroom budgets typically by cutting crucial reporters and editors.

And they’ve been aggressively expanding. In the last two years, the hedge fund attempted —— and failed to buy America’s largest newspaper chain, Gannett, and the McClatchy chain

A post on News Guild dot org… the largest newspaper labor group…. calls the sale —- “a short-sighted view of the value of the company, and an utter disregard for the value of quality news coverage.”

CNN quotes Alden’s president Heath Freeman who says that's not so...

"The purchase of Tribune reaffirms our commitment to the newspaper industry, and our focus on getting publications to a place where they can operate sustainably over the long term."

And if Alden’s playbook for what it calls long teen success is the same... waves of layoffs are to come. Employees and former employees of alden newspapers say those layoffs happen at twice the rate of other newspapers. And the company gains twice the profit … of course.

All this speeds up the slow death of local papers in communities across the country.

A blow that tough to calculate until it’s gone and rarely replaced.

I’m James Brown and I good you bid night



See acast.com/privacy for privacy and opt-out information.

  continue reading

96 episoade

Artwork
iconDistribuie
 

Serii arhivate ("Sursă inactivă" status)

When? This feed was archived on July 14, 2023 12:23 (9M ago). Last successful fetch was on April 21, 2022 11:28 (2y ago)

Why? Sursă inactivă status. Servele noastre nu au putut să preia o sursă valida de podcast pentru o perioadă îndelungată.

What now? You might be able to find a more up-to-date version using the search function. This series will no longer be checked for updates. If you believe this to be in error, please check if the publisher's feed link below is valid and contact support to request the feed be restored or if you have any other concerns about this.

Manage episode 293353564 series 2795548
Content provided by The Modern Fire and James brown. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by The Modern Fire and James brown or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ro.player.fm/legal.

Another dark day for one of the largest newspaper publishers in the country.

Alden Global Capital is buying Tribune …… a publishing company whose papers include The Chicago Tribune, The Baltimore Sun, The Orlando Sentinel, The New York Daily News, among others.

The deal is valued at six hundred thirty million dollars

Why all the gloom? It’s because of who the buyer is. The hedge fund’s nickname is the destroyer of newspapers. And last year Vanity Fair called Alden the “hedge fund vampire that bleeds newspapers dry.” CNN recently called it a “corporate strip miner”

Alden owns about 200 newspapers and often slashes newsroom budgets typically by cutting crucial reporters and editors.

And they’ve been aggressively expanding. In the last two years, the hedge fund attempted —— and failed to buy America’s largest newspaper chain, Gannett, and the McClatchy chain

A post on News Guild dot org… the largest newspaper labor group…. calls the sale —- “a short-sighted view of the value of the company, and an utter disregard for the value of quality news coverage.”

CNN quotes Alden’s president Heath Freeman who says that's not so...

"The purchase of Tribune reaffirms our commitment to the newspaper industry, and our focus on getting publications to a place where they can operate sustainably over the long term."

And if Alden’s playbook for what it calls long teen success is the same... waves of layoffs are to come. Employees and former employees of alden newspapers say those layoffs happen at twice the rate of other newspapers. And the company gains twice the profit … of course.

All this speeds up the slow death of local papers in communities across the country.

A blow that tough to calculate until it’s gone and rarely replaced.

I’m James Brown and I good you bid night



See acast.com/privacy for privacy and opt-out information.

  continue reading

96 episoade

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