Hedge fund Alden Global bids for control of Tribune
New York Times: Alden Global Capital, the hedge fund that has amassed a newspaper empire, said today that it is bidding for full control of Tribune Publishing, the parent of publications like the Chicago Tribune and the Baltimore Sun. In a letter to Tribune’s board, Alden — which is already the publisher’s biggest shareholder, with a nearly 32% stake — said it was willing to buy the remaining shares that it does not already own for $14.25 a share. That represents an 11% premium to Tribune’s closing price on Wednesday. Alden’s MediaNews Group owns about 200 newspapers, including the Denver Post and the Mercury News.