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Denver Post Rebels Against Its Hedge-Fund Ownership
NY Slimes ^ | APRIL 7, 2018 | SYDNEY EMBER

Posted on 04/09/2018 1:54:25 PM PDT by george76

The Denver Post is in open revolt against its owner.

Angry and frustrated journalists at the 125-year-old newspaper took the extraordinary step this weekend of publicly blasting its New York-based hedge-fund owner and making the case for its own survival

...

The bold tactic was born out of a dissatisfaction not uncommon in newsrooms across the country as newspapers grapple with the loss of revenue

...

The lead editorial pulled no punches, describing executives at Alden Global Capital, the paper’s hedge-fund owner, as “vulture capitalists.”

...

“The @denverpost is being murdered by its owners,” one Post reporter, John Wenzel, wrote on Twitter. He continued, “We need a new owner, or we are going to get shut down (and soon).”

...

Already devastated by staff reductions made since Alden Global Capital took over in 2010, The Post was ordered last month to slash another 30 jobs from a newsroom whose count was already below 100.

...

Earlier this year, in another cost-cutting effort, the newspaper left its longtime headquarters in the heart of downtown Denver, steps from the Capitol and City Hall, to an office in Adams County located in the same building as its printing press.

...

Digital First Media is among the biggest newspaper chains in the country, with more than 90 newspapers including The Pioneer Press of St. Paul, Minn.; The Mercury News of San Jose, Calif.; The Orange County Register; and The Boston Herald.

...

people who bought newspapers on the cheap, thinking they were buying at the bottom,” said Alan D. Mutter, who teaches media economics at the University of California, Berkeley. “The revenue cataclysm continues and probably can’t be reversed.”

Until 2009, Denver was a two-newspaper town, with The Rocky Mountain News in competition with The Post.

(Excerpt) Read more at nytimes.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; US: California; US: Colorado; US: Massachusetts; US: Minnesota; US: New York
KEYWORDS: aldenglobalcapital; colorado; denver; denverpost; enemedia; journalists; karma; media; mediawingofthednc; msn; newspaper; newspapers; oldmedia; partisanmediashills; post; presstitutes; smearmachine
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1 posted on 04/09/2018 1:54:25 PM PDT by george76
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To: Grampa Dave; abb; Liz; Mo1; Milhous; A Citizen Reporter; Oatka

Bias and fake reporting causes layoffs.


2 posted on 04/09/2018 1:56:00 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

Things are tough in the slide rule industry as well.


3 posted on 04/09/2018 1:56:38 PM PDT by MrEdd (Caveat Emptor)
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To: MileHi; dynachrome; Balata; bboop; Benito Cereno; BulletBobCo; bravo whiskey; Carley; ColoCdn; ...

Colorado Ping ( Let me know if you wish to be added or removed from the list.)


4 posted on 04/09/2018 1:56:43 PM PDT by george76 (Ward Churchill : Fake Indian, Fake Scholarship, and Fake Art)
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To: george76

Buy it yourself if you don’t like your employer that much. Oh, you don’t have the money? What a pity.


5 posted on 04/09/2018 2:01:18 PM PDT by jyo19
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To: MrEdd

Good one.


6 posted on 04/09/2018 2:02:02 PM PDT by The people have spoken (Proud member of Hillary's basket of deplorables)
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To: george76

They got woke and are going broke.

Blame the bosses, that’ll work.


7 posted on 04/09/2018 2:02:02 PM PDT by SaxxonWoods (DACA is going to be a riot!)
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To: george76

Would I be wrong to suspect that the Denver Post resembles an English language version of Pravda? If so I wonder if these people have considered their political tilt as the reason for its demise.


8 posted on 04/09/2018 2:03:08 PM PDT by Gay State Conservative (You Say "White Privilege"...I Say "Protestant Work Ethic")
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To: MrEdd

My mother is 90 years old. She gets the newspaper.

I don’t know anyone else who does.


9 posted on 04/09/2018 2:03:09 PM PDT by shelterguy (Bigdeal)
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To: george76

If you do not like your boss you are free to quit your job and find employment elsewhere.


10 posted on 04/09/2018 2:03:59 PM PDT by WayneS (An appeaser is one who feeds a crocodile, hoping it will eat him last. - Winston Churchill.)
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To: jyo19

They’re stupid liberals. They thought money grows on trees and yeah, they’re a buncha cheapskates. They could have pooled their money and bought the newspaper instead of bitching about new management.


11 posted on 04/09/2018 2:04:49 PM PDT by max americana (Fired libtard employees 9 consecutive times at every election since 08'. I hope all liberals die.)
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To: george76

Denver is about to become America’s first no-newspaper town. That’s a milestone.


12 posted on 04/09/2018 2:05:44 PM PDT by Buckeye McFrog
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To: george76
The paper is already a shadow of it's former self and just keeps getting smaller.

I'm of two minds about this. The Post has always had a liberal bias and is definitely in the #Nevertrump camp., so I do feel some Schadenfreude. On the other hand, I wouldn't want to see Denver lose its last daily. Maybe it's just my generation, but I still start my morning by reading the paper.

13 posted on 04/09/2018 2:07:05 PM PDT by colorado tanker
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To: george76

They must think they are working for PBS where profit is a dirty word.


14 posted on 04/09/2018 2:07:41 PM PDT by Iron Munro (If Illegals voted Republican 66 Million Democrats Would Be Screaming "Build The Wall!")
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To: Buckeye McFrog

A MileHighStone, even.


15 posted on 04/09/2018 2:08:17 PM PDT by MrEdd (Caveat Emptor)
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To: george76

Is the Post now printed on hemp paper?

Rolling paper?

Inquiring minds need to know.


16 posted on 04/09/2018 2:08:48 PM PDT by Paladin2
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To: george76

The Denver Post is a shameless political rag, devoid of all objective news reporting.

It will be DEAD before Christmas 2018.


17 posted on 04/09/2018 2:09:03 PM PDT by G Larry (There is no great virtue in bargaining with the Devil)
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To: WayneS

Yeah - I’ve talked to people who tried to fire their bosses. On the phone. While they’re asking me if I’ll be a reference on their next job application.


18 posted on 04/09/2018 2:09:52 PM PDT by Billthedrill
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To: MrEdd
"Things are tough in the slide rule industry as well."

I already have a lifetime supply based on castoffs of decades ago...

19 posted on 04/09/2018 2:10:15 PM PDT by Paladin2
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To: george76

I have no love loss for any newspaper, but hedge funds should not be able to dictate to a business.

A hedge fund forced Cabelas to sell even though the hedge only owned a little over 10 percent of the stock.

How is that possible?


20 posted on 04/09/2018 2:10:42 PM PDT by SolidRedState (I used to think bizarro world was a fiction.)
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