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Articles tagged MNG Enterprises (12)

The hedge fund Chatham Asset Management reeled in its prize, as expected. But now what does it want to do with it?
But Alden Global Capital would be happy to lend a hand. Plus: When a standstill isn’t really a standstill.
The vulture fund may be just fine with waiting a bit longer to make its next move to consolidate the local newspaper industry. Meanwhile, newsrooms wait.
By selling Berkshire Hathaway’s newspapers to Lee Enterprises, the world’s most successful investor is acknowledging the industry’s downhill slide is not near an end.
The news industry’s own Doctor Octopus has stuck its tentacles deep into another newspaper chain — and it’s unlikely to be dislodged anytime soon.
Worse, the two left standing could be run by hedge fund guys with little interest in more than the bottom line.
The number of employees soon to be cut at the No. 1 U.S. newspaper chain is about the same number as the No. 2 chain has in total. But newsrooms should mostly be spared — for now.
What will the largest local news company need to do and be to be successful in the 2020s? Neither Gannett nor Gatehouse has offered any big vision of what that is, or could be, even fueled by new money.
The merger of the United States’ No. 1 and No. 2 newspaper chains will likely spark a new wave of consolidation among its smaller competitors. But will the potential cost savings be eaten up by debt payments to financiers?