Posted By Alex Galbraith on Fri, May 21, 2021 at 1:24 PM click to enlarge Photo courtesy Orlando Sentinel/Facebook Tribune Publishing shareholders voted on Friday to allow the sale of the newspaper chain to the hedge fund Alden Global Capital. The financial company is known for slashing newsroom budgets to the bone in order to extract as much profit as possible from their purchased publications, and they now own storied publications like the
Chicago Tribune and Orlando s paper of record, the
Orlando Sentinel. The pending sale of the newspaper brought reporters and editors out in droves to protest the idea of being under the yoke of Alden. The Sentinel Guild lobbied local millionaires with pleas to buy out the publication, though that relief did not materialize.
Other unions under the newspapers’ parent company, Tribune Publishing, will also be holding their own rallies today.
Advertisement
The rallies come in the final days before Tribune shareholders are scheduled to vote on May 21 on Alden Global Capital’s bid for Tribune newspapers.
The company will be voting on a buyout bid from the hedge fund Alden Global Capital.
According to a Facebook post by the Sentinel Guild, “Alden is a hedge fund known for destroying newspapers. It guts newsrooms and shrinks staff to maximize its profits.”
The Orlando Guild rally is taking place at Lake Eola Park at 10:00 a.m. and features current Orlando Sentinel journalists and State Representatives.
4 hours ago by Danielle Prieur (WMFE)
Play Audio
Photo: Roman Kraft
Stay tuned in to our local news coverage: Listen to 90.7 WMFE on your FM or HD radio, the WMFE mobile app or your smart speaker say “Alexa, play NPR” and you’ll be connected.
The Orlando Sentinel Guild is calling on Tribune shareholders to vote no on Alden Global Capital’s bid for the paper at a Lake Eola rally on Saturday.
Join us in our effort to save the @orlandosentinel!
If you’re in Central Florida, please join us at Lake Eola this Saturday at 10 a.m. to demand Tribune shareholders reject Alden Global Capital’s bid and save local news.https://t.co/2DCqCRbCoIpic.twitter.com/NA7c8DxnVp
Alternative bidders emerge for newspaper chain Tribune ksat.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from ksat.com Daily Mail and Mail on Sunday newspapers.
Alternative bidders emerge for newspaper chain Tribune: report foxbusiness.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from foxbusiness.com Daily Mail and Mail on Sunday newspapers.