Terry Jimenez, the chief executive of Tribune Publishing, owner of the Chicago Tribune and New York Daily News, has been fired in the wake of the takeover by hedge fund Alden Global Capital. Heath Freeman, president of Alden, was named president of the newly formed Tribune Enterprises, with Alden controlling all seven board seats.
Alden Global Capital, which already owned one-third of Tribune, now takes full control of the Chicago Tribune, Baltimore Sun and other Tribune papers in a deal worth roughly $630 million. Through its Digital First Media chain, Alden also owns the Boston Herald, Denver Post and San Jose Mercury News. The deal had drawn opposition from many of the company’s journalists at papers in an unusual spate of employee activism.
Shareholders of Tribune Publishing will vote on the company’s sale to Alden Global Capital. Dr. Patrick Soon-Shiong, a billionaire who owns The Los Angeles Times, could determine the outcome.
Today, Nielsen and Boston Globe Media Partners launched a custom and proprietary cross-platform study that they say “will help the New England-based metro organization strengthen its brand position and foster […]
Opposition to hedge fund takeover of Tribune Publishing is bubbling up ahead of next week’s deal vote, including three legal fights, plans for multi-city rallies and written pleas for new buyers. “Please buy this newspaper,” ran a May 5 headline in the New York Daily News.
Exclusives
The Washington Post has named longtime journalist Sally Buzbee of the Associated Press as its executive editor, marking the first time a woman has been appointed to lead the 143-year-old news organization. Buzbee, AP’s executive editor and senior vice president, will take over leadership of the Post’s nearly 1,000-person newsroom next month, said publisher Fred Ryan, who made the announcement to the newspaper’s staff on Tuesday.
One of the biggest newspaper jobs goes to a groundbreaking journalist who spent two decades at The Washington Post.
Stewart Bainum is making a third try to keep the newspaper chain away from the hedge fund Alden Global Capital, which is poised to be the company’s next owner.
NEW YORK (AP) — The New York Times is retiring its Op-Ed page and inviting guests. The newspaper said Monday it is eliminating the designation it has been using since […]
Tribune said it no longer thinks it likely Stewart Bainum Jr.’s effort will result in a “superior proposal” to that of Alden Global Capital and has closed the books to other potential investors.
Hansjörg Wyss was part of a serious offer for the major newspaper chain that could have prevented it from being sold to the hedge fund Alden Global Capital.
Billionaires aren’t usually cast as saviors of democracy. But one way they are winning plaudits for civic-minded endeavors is by funding the Fourth Estate.
A special team led by a high-level manager says Rupert Murdoch’s paper must evolve to survive. But a rivalry between editor and publisher stands in the way.
A Maryland hotel magnate and a Swiss billionaire have made a bid for Tribune TPCO 0.22% Publishing Co. that the newspaper chain is expected to favor over a takeover deal it already struck with hedge fund Alden Global Capital. A special committee of Tribune’s board has determined that a roughly $680 million, $18.50-a-share bid submitted late last week by Choice Hotels International Chairman Stewart Bainum and Hansjörg Wyss is reasonably likely to lead to a proposal that is superior to Alden’s $635 million deal, people familiar with the matter said. That is legal deal-speak indicating Alden may need to raise its bid or risk losing the deal.
She may not be on the masthead, but Soon-Shiong has become a regular voice in the Los Angeles Times newsroom. That might normally be cause for tension, but many staffers say it’s a welcome change.
The philanthropist Hansjörg Wyss has teamed with the Maryland hotel executive Stewart Bainum in a bid to upend Alden Global Capital’s plan to acquire the newspaper chain.
Stewart W. Bainum Jr., a hotel magnate, made an $18.50 per share offer for the whole company, while Alden Global Capital had offered $17.25 per share.
Congress modified the PPP rules so that local newspapers and broadcasters could receive the money. The Times received the maximum amount.
A Maryland hotel magnate who had a deal to buy The Baltimore Sun is now weighing a bid for all of Tribune’s newspapers that could thwart a hedge fund’s plan.
Fox News host Tucker Carlson devoted a lengthy portion of his show Tuesday night to attacking New York Times reporter Taylor Lorenz over her accounts of facing online harassment, claiming that in fact she has “one of the best lives in the country.” After both she and the newspaper spoke out, with the Times calling his segment “calculated and cruel,” he returned to the airwaves on Wednesday to continue lambasting Lorenz. He labeled her a “deeply unhappy narcissist,” denied that she faces online abuse and allowed a guest to baselessly accuse her of “harassing kids and teenagers.”
In a rare case, Andrea Sahouri, a Des Moines Register reporter, was prosecuted after she was arrested while covering a protest against racism and police violence last May.
NEW YORK (AP) — The New York Times says it needs a culture change to become a better place to work, particularly for people of color. The newspaper told its […]
The Washington Post has tapped Cameron Barr, one of four managing editors, to be its acting executive editor ahead of Marty Baron’s exit on Feb. 28. “The search for the next executive editor is actively underway with a broad and diverse group of exceptional journalists,” said Publisher Fred Ryan who is heading the search. “It will not be complete prior to Marty’s departure at the end of this month.”
Patrick Soon-Shiong, the owner of The Los Angeles Times, is denying reports that said he was exploring selling the company. The denial on Friday came after The Wall Street Journal reported that the billionaire investor was exploring selling the company just three years after he bought the Times along with the San Diego Union- Tribune and other weeklies from Tribune Publishing in 2018 for $500 million.
Journalists at newspapers across the United States were despondent Tuesday when they learned their parent company would be sold to Alden Global Capital, a hedge fund notorious for gutting newsrooms. But at their sister paper, the Baltimore Sun, people were celebrating an apparent reprieve. The Sun was not bound for the hedge-fund chopping block like several other papers owned by Tribune Publishing. Instead, a Maryland business executive and philanthropist plans to buy Baltimore’s nearly 184-year-old newspaper and preserve it as a nonprofit.
Hedge fund Alden Global Capital will acquire Tribune Publishing, publisher of the Chicago Tribune and other newspapers, in a deal worth $630 million. The companies announced on Tuesday that Alden will acquire all of the outstanding shares in Tribune that Alden doesn’t currently own for $17.25 per share in cash.
The Washington Post today announced an expansion of its technology team, adding eight positions that will grow the team to 27 reporters, editors and video journalists. The Post said its […]
In its fourth-quarter earnings report, The New York Times Co. said 2020 was its biggest year for adding subscribers.
In an industrywide changing of the guard, other big newsroom jobs that have come open include the No. 1 slots at Vox, HuffPost and Wired. Above, Martin Baron, the executive editor of The Washington Post, announced this week that he was stepping down after a 45-year career.
Martin Baron, executive editor of the Washington Post and recipient of multiple Pulitzer Prizes over the course of his career, announced his retirement today. Baron spearheaded Spotlight, the Boston Globe’s investigation into attempts by the Catholic Church to cover-up sexual abuse, and oversaw the Post’s editorial transformation under Amazon founder Jeff Bezos — turning it from a regional paper into a national brand.
