Updated April 16, 2018 to include more press clips.
April 9, 2018 – An act of defiance by the editorial board of the Denver Post has thrust a powerful hedge fund’s destruction of local news coverage to the front pages of publications across the country. Continue reading “Defiance at Denver Post Thrusts Hedge Fund’s Disastrous Effect on Local News into Headlines”
https://www.facebook.com/dfmworkers/videos/1783650431692904/
March 28, 2018 – Since this photo was taken in May 2013, The Denver Post newsroom staff has been cut by more than half as Alden Global Capital, the hedge fund that owns the paper, rakes in massive profits. And more layoffs are on the way. Continue reading “Alden Global Capital ’Disappears’ Denver Post Newsroom”
Shuttering papers and turning them into weekly inserts is accelerating the rise of news deserts, researcher says
Glimmers of hope as some hedge fund owners get out of the news business Continue reading “The ’Ghost Newspapers’ Are Here”
March 20, 2018 – Workers at the Boston Herald voted unanimously to ratify collective bargaining agreements on March 15, following a grueling period of uncertainty and strife that began when former owner Pat Purcell declared bankruptcy on Dec. 8.
The agreements averted major cuts to pay and benefits, which the new owners, Digital First Media, could have imposed on March 19, when their bid to purchase the Herald received final approval from the bankruptcy court. Continue reading “After Bankruptcy, Boston Herald Employees Vote Unanimously to Ratify New Contracts”
FOR IMMEDIATE RELEASE
March 12, 2018
Contact: Bernie Lunzer, President
NewsGuild-CWA
202-434-7175
Carl Hall, Executive Officer
NewsGuild Local 39521
Pacific Media Workers Guild
chall@mediaworkers.org
WASHINGTON, DC — New York hedge fund Alden Global Capital siphoned hundreds of millions of dollars from one of America’s largest news chains, damaging local news organizations to finance insider investment deals, according to a lawsuit filed recently in a Delaware court. Continue reading “Alden Global Capital Siphoned Hundreds of Millions, Suit Alleges; Pulitzer-Prize Winners Condemn Practices”
March 8, 2018 – A group of prominent Bay Area journalists – including Pulitzer-Prize winners from the East Bay Times – have denounced “the ongoing destruction of our newsrooms” by the company’s owners, Alden Global Capital. Continue reading “Pulitzer-Prize Winners Denounce Alden’s ‘Ongoing Destruction’ of Newsrooms”
By Julie Reynolds
March 8, 2018 – New York hedge fund Alden Global Capital siphoned hundreds of millions of dollars from one of America’s largest news chains, a new lawsuit charges, damaging local news organizations to finance insider investment deals. Continue reading “Hedge Fund Alden Siphoned 100s of Millions from Newspapers in Scheme to Gamble on Other Investments, Suit Says”
SIGN THE PETITION: Tell Duke to cut ties to Alden/Heath Freeman
This article by Julie Reynolds appears on the DFM Workers website.
March 2, 2018 – The NewsGuild-CWA, which represents workers at 12 Digital First Media newspapers, is urging Duke University to sever its ties to hedge fund president Heath Freeman, saying Freeman’s donations “directly contradict” the mission of Duke, home to one of the nation’s most prominent research centers for media and democracy. Continue reading “Guild Urges Duke to Sever Ties with Hedge Fund President”
Feb. 22, 2018 – As negotiations for wage increases get underway, workers at 12 publications owned by Digital First Media (DFM) are escalating their contract campaign against Alden Global Capital, the New York hedge fund that owns the company and that has been systematically stripping newspaper assets since 2012. Continue reading “Campaign for Raises Escalates as DFM Cuts Staff”
UPDATE: Total buyouts in San Jose this week now stand at 15, at least 9 of whom are NewsGuild-represented, bringing total job losses for the Bay Area News Group this week to at least 27.
By Julie Reynolds
Feb. 2, 2018 – Recent company-wide layoffs at Digital First Media newspapers are part of a calculated strategy to extract maximum profits in the next two to three years before shutting down or selling the chain, a prominent news business analyst said Wednesday. Continue reading “Layoffs, buyouts across DFM newspaper chain follow hedge fund’s profit-extraction strategy”
