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Articles tagged Alden Global Capital (62)

“What was so shocking to me is that all the acquisitions led to staffing changes almost immediately and an almost immediate drop in content.”
Newsletter signups went up 60% following the news startup’s wall-to-wall coverage of the Marshall Fire. “We will not survive if we’re not meeting the information needs of our community. It’s not a side project we have. It’s just who we are.”
This time it’s Lee Enterprises in the cross-hairs. Adding it to its empire would leave two American local newspaper giants — Gannett and Alden — and everyone else far behind.
Cerberus Capital Management is entrenched in the military industrial complex and its company trained a journalist’s assassins. It also made possible the takeover of Tribune Publishing.
Tribune board members acted in their own interests, not their newspaper chain’s, while Alden failed to disclose a secret investor meeting and misrepresented its cash position.
And, as usual for this glum moment in media, it’s a private equity firm that wants a crack at finding new places to cut.
Win or lose, the hedge fund comes out richer.
Instead of taking 30% of new subscribers’ payments, it’ll take 15%. The money’s welcome, but it’s also a reminder of how little control publishers have over the terms they get from tech giants.
“I just determined that I would rather do anything else in life than to dismantle a proud newsroom and lay off my friends and colleagues and eventually be laid off myself.”
Lookout doesn’t want its local news sites to be a supplement or alternative to the local daily. They aim to be the news source of record in their communities, outgunning their shrunken newsprint rivals from Day 1.