Tribune Publishing shareholders are set to vote Friday on a $633 million proposal by hedge fund Alden Global Capital to buy the Chicago-based newspaper chain and take it private.
Tribune Publishing shareholders will decide Friday whether to approve the company’s sale to hedge fund Alden Global Capital, a move that would place Tribune’s publications, including the Hartford Courant, under Alden’s control.
Tribune Publishing journalists and their allies, using a “fat cat” balloon as a prop, protest Alden Global Capital’s possible takeover of the company. The Saturday rally, backed by the NewsGuild-CWA union, was outside the Chicago Tribune’s printing plant in River West. The speaker is Don Villar, secretary-treasurer of the Chicago Federation of Labor, which has an ownership stake in the Chicago Sun-Times.
Pat Nabong/Sun-Times
This Friday, board members of Tribune Publishing are due to convene remotely with a heavy responsibility. The directors of the Chicago-based company are scheduled to vote on selling it to a hedge fund known for ruthless cost cutting.
Tribune Publishing employees hold Save Local News rally chicagotribune.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from chicagotribune.com Daily Mail and Mail on Sunday newspapers.
Orlando Sentinel reporters, alumni and readers turned out Saturday to protest Alden Global Capital’s $631 million offer for the newspaper giant, Tribune Publishing, which owns the Orlando paper, the Chicago Tribune, South Florida's Sun-Sentinel and six other dailies.