Tribune Publishing, the owner of some of the largest metropolitan newspapers in the United States, will be acquired by a hedge fund with a reputation for slashing costs and cutting newsroom jobs, after shareholders voted to approve the deal on Friday. (NYT)
Alden Capital announced that the vote okayed the roughly $630 million deal that would give it full ownership of the Chicago Tribune, the Baltimore Sun and several other newspapers. (USA Today)
There had been hopes that the largest shareholder of Tribune, Patrick Soon-Shiong, who owns the Los Angeles Times and the San Diego Union Tribune, would try to block the deal, but he abstained from voting. (Deadline)
Alden, which already owned nearly one-third of Tribune, also owns the Boston Herald, Denver Post and San Jose Mercury News through its Digital First Media chain. (New York Post)