An unidentified bidder has offered to purchase The Morning Call Media Group for $30 million to $40 million, a proposal that was disclosed in a regulatory filing Tuesday that comes about a month after the Allentown newspaper’s parent company announced it was selling its properties to a hedge fund with a reputation for ruthless cost-cutting.
The Donerail Group Takes Further Steps to Bring Value to Turtle Beach morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
The Donerail Group, advised by Olshan Frome Wolosky, said Tuesday that it is teaming up with SCW Capital Management to launch a proxy contest that aims to overhaul the entire board of computer and gaming accessories maker Turtle Beach Corp., citing underperformance and "weak corporate governance."
The lawsuit isn’t unexpected. Journalism analysts and union representatives had anticipated that Alden Global Capital would continue to aggressively pursue a deal for the newspaper owner.