Deal includes selling The Baltimore Sun and several other papers to a nonprofit foundation;
Sale must be approved by two-thirds of remaining shareholders.
Alden Global Capital, the New York hedge fund known for draconian cost-cutting at newspapers in its MNG Enterprises chain, has reached a deal with board members at Tribune Publishing to acquire the publicly traded company and take it private.
Continue reading “Tribune board agrees to sell company to Alden; union vows to continue to fight for quality journalism”