The old pump and dump was illegal; now new and improved.
Pump the Tribune overflowing with debt, then dump the dead shell. All for a modest service fee.
"But Alden has imposed draconian staff cuts that decimated the Denver Post and other once-proud newspapers that have been vital to their communities and to American democracy."
Too bad so sad.
Schadenfreude, here:
Chicago Tribune staff fear ‘avaricious destruction’ by hedge fund owners
https://www.theguardian.com/media/2020/jan/21/chicago-tribune-staff-hedge-fund-owners-alden
The Denver Post is “vital?”
A few weeks back, my wife and I bought the local city Sunday newspaper for the first time in several years. We never read the Sunday paper, but we used to get it for the sale inserts.
We paid several dollars for it and it had no inserts. We checked the others in the stack and none had any.
Even stores now realize no one buys the newspaper.
The leftist Lunatics at the Tribune are losing their minds! They will no longer get paid to spill their communist slanted “news” under the cover of The Chicago Tribune on a daily basis.
There is little, if any growth potential in newspapers, in my opinion. Except for certain small markets, the entire industry seems antiquated and to be quickly shriveling.
I still miss my physical paper, but have gotten used to coming to the internet, where a bumper crop of info can be harvested at any moment. Physical papers have shrunken dramatically, skimpy, non-serious products of less money being invested in them. This guy, Freeman, may see it differently. Well, he is the millionaire, while I’m not.
Hard for us nonsubscribers to WSJ to tell what it says.
Just maybe, if newspapers printed objective news instead of jamming Marxism down people’s throats, people would read them. When people read them, companies buy advertising, and newspapers are profitable.
Worse than I thought...
I know many on this forum have no love for the newspaper industry and frankly, I do not blame you. Because the writing is so biased, I can barely read the product I produce. The last year has been nothing but endless stories about COVID, racism, white supremacy, and telling their own "big lie" about what they call the "big lie": believing the 2020 election was stolen. I tell my wife that if I had an ounce of integrity, I would resign tomorrow and tell the publisher why. But, I've been there twenty-two years and I rationalize my employment by telling myself that as a printing professional, it's my job to produce a good-looking product. My benefits are outstanding and I have great flexibility. Besides - in all honesty, I need the money.
I knew this day was coming years ago: I have been attending school in the pursuit of an accounting degree and I am more than halfway there. Since Alden announced their intent to purchase Tribune, I have heard the whinging and whining from the newsroom and their union representation. These self-important "journalists" believe their "mission" and "craft" is somehow not subject to the law of economics and finance; it's the same song they sang when Sam Zell took over. They forget that advertising revenue has plummeted since 2005, and that revenue was what allowed them their "mission". As far as I am concerned, they can "learn to code."
My future with Tribune is tenuous; however, I cannot and will not worry about it: I will continue to strive to be the best at what I do and leave the rest in God's hands.