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”
After Bankruptcy, Boston Herald Employees Vote Unanimously to Ratify New Contracts
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”
Alden Global Capital Siphoned Hundreds of Millions, Suit Alleges; Pulitzer-Prize Winners Condemn Practices
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
Alden Global Capital Siphoned Hundreds of Millions, Suit Alleges
Pulitzer-Prize Winners Condemn Practices
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”
Pulitzer-Prize Winners Denounce Alden’s ‘Ongoing Destruction’ of Newsrooms
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”
Guild Urges Duke to Sever Ties with Hedge Fund President
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”
Campaign for Raises Escalates as DFM Cuts Staff
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”
Layoffs, buyouts across DFM newspaper chain follow hedge fund’s profit-extraction strategy
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”
DFM Workers: Stop pillaging our community newspapers to finance your mansion buying sprees!
Nov. 21, 2017 – Employees of news organizations owned by Alden Global Capital, a shadowy hedge fund that now controls 200 newspapers across the country, are telling head honchos Randall Smith and Heath Freeman: Stop pillaging our community newspapers to finance your mansion buying sprees!
Sign their petition here.
DFM Workers Expand Coordinated Campaign
Nov. 6, 2017 – NewsGuild members at papers owned by Digital First Media (DFM) expanded a coordinated campaign in recent weeks by exposing the devastating effect that Alden Global Capital, the hedge fund that controls DFM, has had on local news coverage and journalists’ jobs.
Workers at DFM’s 12 unionized papers recently unleashed two separate two-day Twitter storms to call attention to the corrosive effect of Alden’s management of the papers: Layoffs at twice the industry average. Gutting the papers’ assets by selling buildings and equipment. Entire communities left without news coverage. Continue reading “DFM Workers Expand Coordinated Campaign”
Guild Conference Calls for Action
Aug. 21, 2017 – With President Trump’s attacks on journalists as a backdrop, the Guild’s August conference took on a sense of urgency. Delegates discussed the best ways to respond, approved a resolution to Defend the Right to Report, and urged its adoption by the CWA convention that followed. Continue reading “Guild Conference Calls for Action”