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?
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.
Benton, Joshua. "Hundreds of Tribune employees are protesting Alden Global Capital’s sudden interest in their newspapers." Nieman Journalism Lab. Nieman Foundation for Journalism at Harvard, 11 Dec. 2019. Web. 26 Sep. 2020.
APA
Benton, J. (2019, Dec. 11). Hundreds of Tribune employees are protesting Alden Global Capital’s sudden interest in their newspapers. Nieman Journalism Lab. Retrieved September 26, 2020, from https://www.niemanlab.org/2019/12/hundreds-of-tribune-employees-are-protesting-alden-global-capitals-sudden-interest-in-their-newspapers/
Chicago
Benton, Joshua. "Hundreds of Tribune employees are protesting Alden Global Capital’s sudden interest in their newspapers." Nieman Journalism Lab. Last modified December 11, 2019. Accessed September 26, 2020. https://www.niemanlab.org/2019/12/hundreds-of-tribune-employees-are-protesting-alden-global-capitals-sudden-interest-in-their-newspapers/.
Wikipedia
{{cite web
| url = https://www.niemanlab.org/2019/12/hundreds-of-tribune-employees-are-protesting-alden-global-capitals-sudden-interest-in-their-newspapers/
| title = Hundreds of Tribune employees are protesting Alden Global Capital’s sudden interest in their newspapers
| last = Benton
| first = Joshua
| work = [[Nieman Journalism Lab]]
| date = 11 December 2019
| accessdate = 26 September 2020
| ref = {{harvid|Benton|2019}}
}}
