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.
It now makes more revenue from digital than from print and continues to add new subscribers at a record pace. But its brutal COVID-driven drop in advertising will be echoed all across the industry.
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.
Tribune and McClatchy are both approaching critical deadlines that could lead to mergers, divisions — or even the first big nonprofit newspaper chain in the United States.
Will Chatham Asset Management, the hedge fund set to gain control of the company, want to operate it after bankruptcy? Or will it look to cash out via merger as quickly as possible?
Benton, Joshua. "A “management transition” is the latest gloomy sign to come out of Tribune Publishing." Nieman Journalism Lab. Nieman Foundation for Journalism at Harvard, 3 Feb. 2020. Web. 25 Apr. 2024.
APA
Benton, J. (2020, Feb. 3). A “management transition” is the latest gloomy sign to come out of Tribune Publishing. Nieman Journalism Lab. Retrieved April 25, 2024, from https://www.niemanlab.org/2020/02/a-management-transition-is-the-latest-gloomy-sign-to-come-out-of-tribune-publishing/
Chicago
Benton, Joshua. "A “management transition” is the latest gloomy sign to come out of Tribune Publishing." Nieman Journalism Lab. Last modified February 3, 2020. Accessed April 25, 2024. https://www.niemanlab.org/2020/02/a-management-transition-is-the-latest-gloomy-sign-to-come-out-of-tribune-publishing/.
Wikipedia
{{cite web
| url = https://www.niemanlab.org/2020/02/a-management-transition-is-the-latest-gloomy-sign-to-come-out-of-tribune-publishing/
| title = A “management transition” is the latest gloomy sign to come out of Tribune Publishing
| last = Benton
| first = Joshua
| work = [[Nieman Journalism Lab]]
| date = 3 February 2020
| accessdate = 25 April 2024
| ref = {{harvid|Benton|2020}}
}}
