Tribune Publishing shareholders have elected 2 Alden Global Capital representatives to the board, and Alden is barred from raising its Tribune stake until June 30

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Chicago Tribune / Robert Channick / May 22

“Alden, which has a track record of sweeping layoffs at its newspaper properties, took a 32% stake in Tribune Publishing in November, mostly through buying former nonexecutive chairman Michael Ferro’s holdings. In total, Alden purchased 11.5 million shares of Tribune Publishing for $145.4 million. The two Alden representatives, Dana Goldsmith Needleman and Christopher Minnetian, were added to the newspaper company’s board in December, expanding it to eight members, but Alden was restricted from increasing its stake in the company to more than 33% until June 30.” —