Hedge fund Alden Global Capital LLC is trying to buy a network of periodicals owned by Tribune Publishing Co. The hedge fund already owns more than 30% of the shares in the publishing house and 3 of 7 seats on the board of directors of the publishing house.

Newspapers such as the Chicago Tribune and the New York Daily News are of particular interest to the foundation.

While the details of the deal are not known and neither side has given any comments, it can be argued that the consequences of the deal will be tangible for the industry.

The market value of Tribunes is around 460 million, after an industry downturn of nearly 15 years, falling revenues and cutting funding. During the epidemic of the Covid-19 virus, the publishing house lost almost 50% of jobs in the field of correspondence and news. The growth of the shares of the publishing house was also not observed this year, and their indicators were practically at the same level. It follows from this that the future of local newspapers is very uncertain.

It is known that in early December, Tribun sold his Internet channel to the largest telecommunications company Nexstar Media Group for a price of 165 million.