Tribune Publishing is offering buyouts after hedge fund became largest shareholder
Tribune Offers More Buyouts:
According to Kerry Flynn of CNN, Tribune Publishing "is offering buyouts to employees for the second time in two years and months after hedge fund Alden Global Capital became the largest shareholder in the company." Buyouts will be open to employees who have worked at the media company for eight or more years. "Alden Global Capital's reputation as a destroyer of local newspapers should alarm all citizens in every city with a Tribune Publishing newspaper," said Gregory Pratt, a Chicago Tribune reporter. "We need a civic minded owner who understands that journalism is critical to the communities where we work and that news outlets can't be a piggy bank for hedge funds to raid."