Skip to comments.Denver Post Rebels Against Its Hedge-Fund Ownership
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 papers 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 cant 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 ...
Bias and fake reporting causes layoffs.
Things are tough in the slide rule industry as well.
Colorado Ping ( Let me know if you wish to be added or removed from the list.)
Buy it yourself if you don’t like your employer that much. Oh, you don’t have the money? What a pity.
They got woke and are going broke.
Blame the bosses, that’ll work.
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.
My mother is 90 years old. She gets the newspaper.
I don’t know anyone else who does.
If you do not like your boss you are free to quit your job and find employment elsewhere.
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.
Denver is about to become America’s first no-newspaper town. That’s a milestone.
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.
They must think they are working for PBS where profit is a dirty word.
A MileHighStone, even.
Is the Post now printed on hemp paper?
Inquiring minds need to know.
The Denver Post is a shameless political rag, devoid of all objective news reporting.
It will be DEAD before Christmas 2018.
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.
I already have a lifetime supply based on castoffs of decades ago...
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?
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