With Alden once again on the prowl, it’s time to stop hedge funds from destroying newspapers

Photo (cc) 2007 by Mike

By Dan Kennedy

It’s rather late in the game to ask whether hedge funds can be stopped from buying up every last one of our local newspapers. After all, about half of us are already stuck with a paper that is owned by, or is in debt to, the likes of Alden Global Capital (Tribune Publishing and MediaNews Group), Apollo Global Management (Gannett) and Chatham Asset Management (McClatchy).

Still, with Alden having now set its sights on Lee Enterprises, a chain that owns 77 daily newspapers in 26 states, we need to take steps aimed at preventing what is already a debacle from devolving into a catastrophe.

Read the rest at GBH News.

Author: Dan Kennedy

I am a professor of journalism at Northeastern University and a contributor to GBH News in Boston. My blog, Media Nation, is online at dankennedy.net.

One thought on “With Alden once again on the prowl, it’s time to stop hedge funds from destroying newspapers”

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: