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Alden Global Capital

All articles tagged with #alden global capital

labor-relations1 year ago•6 min saved

Journalists at Multiple Newspapers Stage 24-Hour Strikes

Chicago Tribune reporters and newsroom staff, supported by journalists and production workers at seven newsrooms, launched a 24-hour strike, demanding fair wages and the preservation of their 401(k) match benefits, which have been cut for non-union employees. The union also highlighted pay disparities, with women and employees of color being paid less than their counterparts. The strike comes as negotiations for a contract enter their fifth year, with staff facing significant buyouts and cuts under Alden Global Capital's ownership.

via Chicago Sun-Times|

#alden-global-capital #chicago-tribune #labor-relations

labor-strike1 year ago•3 min saved

"Multiple Newsrooms Across the US Unite in 24-Hour Strike for Fair Wages and Working Conditions"

More than 200 staffers from the Chicago Tribune and six other newsrooms initiated a 24-hour strike to protest stalled contract negotiations and demand fair wages, with the employees citing concerns over budget cuts and job losses under Alden Global Capital's ownership. The strike, organized by The NewsGuild-CWA, aims to address issues such as 401(k) match benefits and staff reductions, highlighting broader challenges faced by the media industry, including recent layoffs at major publications.

via The Associated Press|

#alden-global-capital #chicago-tribune #fair-wages

labor-relations1 year ago•5 min saved

"Newspaper Journalists Plan 24-Hour Strike Against Budget Cuts and Ownership"

Journalists at several Pulitzer-winning regional newspapers owned by Alden Global Capital, including the Chicago Tribune, the Orlando Sentinel, and the Virginian-Pilot, plan to walk off the job to protest management’s refusal to offer cost-of-living raises and threats to end their 401(k) matches. The walkouts are part of a larger wave of union actions at media companies, with employees expressing concerns over the firm's practices of slashing newsroom operations and cutting staff. The collective action aims to confront management over practices that are seen as undermining coverage of their communities, and the journalists are prepared to continue fighting for their rights.

via The Washington Post|

#alden-global-capital #journalism #labor-relations

business-media2 years ago•2 min saved

Sinclair Chairman David D. Smith Acquires Baltimore Sun

The Baltimore Sun, Maryland's largest newspaper, has been sold to David D. Smith, the executive chairman of Sinclair TV stations, in a private deal with Alden Global Capital. Smith, a Baltimore native, aims to support his hometown newspaper and believes in its potential profitability and public service. The sale marks the first time in nearly four decades that the Sun will have a local owner. The newspaper has faced challenges from declining circulation and advertising revenue, as well as competition from The Baltimore Banner. Smith's acquisition reflects a trend of wealthy investors seeking to revive news organizations, and Baltimore Sun Media has earned 16 Pulitzer Prizes, with The Capital Gazette receiving a special Pulitzer citation for its coverage of a 2018 shooting attack.

via The New York Times|

#alden-global-capital #baltimore-sun #business-media

media2 years ago•1 min saved

San Diego Union-Tribune Sold to Hedge Fund, Staff Cuts Expected

The San Diego Union-Tribune has been sold to hedge fund Alden Global Capital's MediaNews Group, completing the transaction on Monday. The newspaper, which dates back to 1868, was previously owned by Tribune Publishing and sold along with the L.A. Times to Patrick Soon-Shiong in 2018. MediaNews Group, known for cost-cutting methods, owns over 100 newspapers and has faced criticism for staff reductions. The new ownership anticipates making staffing decisions to offset revenue slowdowns, seeking efficiencies while prioritizing local newsgathering.

via NBC San Diego|

#alden-global-capital #media #medianews-group

business2 years ago•2 min saved

San Diego Union-Tribune Changes Hands in Major Ownership Shift

Los Angeles billionaire Patrick Soon-Shiong has sold The San Diego Union-Tribune to an affiliate of the MediaNews Group, owned by Alden Global Capital. The sale comes as the Los Angeles Times, also owned by Soon-Shiong, has had to make deep cuts in its newsroom. The new owner has indicated that cutbacks will be necessary to offset revenue slowdowns in the media industry. Efforts will be made to find efficiencies while prioritizing local newsgathering. The Union-Tribune employs 220 people, and buyouts are being offered to staff. If a sufficient number of employees do not take buyouts, layoffs may occur.

via The San Diego Union-Tribune|

#alden-global-capital #business #medianews-group