Digital First Media’s profits “near the top of the industry,” company says in takeover letter
By Julie Reynolds
This is a reprint of an article that appeared on Jan. 15 on DFMworkers.org.
Jan. 15, 2019 – Billing itself as a savior of newspapers, vulture hedge fund Alden Global Capital has made a $1.36 billion hostile takeover bid to acquire Gannett’s chain of more than 100 local papers.
If successful, the move would make Alden’s Digital First Media the largest newspaper chain in the country (in terms of circulation), while extending Alden’s heavily criticized slash-and-burn strategy to hundreds of U.S. communities. Continue reading “Hedge fund Alden attempts takeover of Gannett newspaper chain”