![]() ![]() ![]() We just can't keep accepting these mergers as if there’s nothing we can do abt them. "We should view this latest as a wake-up call. “What we have seen in the past, especially with Alden, is that it has led to cuts in reporting staffs, and worse and worse coverage of communities in many cases," said Steve Waldman, president of Report for America, an organization that places journalists in local newsrooms, including The Associated Press. About one-fourth of the country’s newspapers have closed n the past 15 years, according to research from the University of North Carolina.Īlden said Monday that its offer for Lee is a “reaffirmation of our substantial commitment to the newspaper industry and our desire to support local newspapers over the long term.”īut local-news advocates take a different view of Alden and other financial firms' ownership of local papers. Most of the cards have a screenshot of the associated section from First Aid (2018) or Boards and Beyond, or a helpful figure/diagram. Newsroom jobs dropped nearly in half from 2004 to 2018, according to Pew Research, and the pandemic has exacerbated those stresses. Uses hierarchical tags to organize each of the 400+ videos. The newspaper business has been consolidating as it struggles with a digital transition and shrinking revenues, and financial firms like Alden have taken an increasingly prominent role as owners. Alden also owns the Denver Post, Orange County Register and Boston Herald.Īlden has a reputation for slashing costs, including selling off newspapers' real estate, that go even beyond the newspaper industry’s overall turn in that direction. ![]() The company had more than 5,000 full-time employees as of September 2020.Īlden scooped up the Tribune papers earlier this year in a deal that was bitterly contested by the Tribune company's own journalists and community leaders in Tribune's markets, who sought, ultimately without success, to find local buyers for papers including the Baltimore Sun and Chicago Tribune. Louis Post-Dispatch and the Buffalo News, along with dozens of smaller papers in more than two dozen states. The Iowa company's spokesperson did not immediately reply to a request for comment. Alden says it does not foresee regulatory issues that could complicate a deal. It already owns 6% of Lee's stock and is proposing to buy the rest for $24 a share. In a news release Monday, Alden said it sent Lee's board a letter with the offer. RISHI Sunak’s expected freezing of fuel duty, set to save a typical driver £66 a year, marks a decade of victories for The Sun’s Keep It Down campaign. Hedge fund Alden Global Capital, one of the country's largest newspaper owners with a reputation for intense cost cuts and layoffs, has offered to buy the local newspaper chain Lee Enterprises for about $141 million. ![]()
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