In the latest sign of the finance industry’s tightening grip on the local news business, Alden Global Capital has moved a significant step closer toward acquiring a major prize: Tribune Publishing, the parent of nine major metropolitan papers including The Chicago Tribune, The New York Daily News and The Baltimore Sun. (NYT)
The hedge fund has submitted a bid to acquire Tribune Publishing according to a filing Thursday with the Securities and Exchange Commission. The deal is valued at $520 million. (Poynter)
Alden owns 31.6 percent of shares of Tribune, once briefly known as “Tronc.” (New York Post)
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