Alden Global Capital has eliminated the jobs of scores of reporters and editors, decimating journalism in cities across the US: Denver, Boston, San Jose, Orange County CA. Next up: Chicago, Baltimore, and the New York Daily News. Via @joepompeo
vanityfair.com/news/2020/02/h…
vanityfair.com/news/2020/02/h…
Heath Freeman’s Alden Global Capital: “grim reaper of American newspapers... In Northern CA, the editorial staff of 16 newspapers had reportedly been slashed from 1,000 to 150. In Orange County, apparently just 4 reporters were covering 34 cities. vanityfair.com/news/2020/02/h…
Thru $1.2 B merger of GateHouse and Gannett in November, Fortress Investment Group, owned by SoftBank, now manages the largest newspaper chain in US: more than 260 dailies. The management fees reaped by Fortress? about $100 M over 5 years. Via @joepompeo vanityfair.com/news/2020/02/h…
<<Chatham Asset Management is biggest holder of stock & debt in Sacramento’s McClatchy, whose 2-dozen-plus titles include Miami Herald, Sacramento Bee, Kansas City Star. Chatham could end up in the driver’s seat of a restructured McClatchy>> via @joepompeo vanityfair.com/news/2020/02/h…
.@kdoctor: “As America has moved from jokey indulgences in truthiness to a point where fact fights for its very life, it’s the bankers who are deciding what will be defined as news, and who and how many people will be employed to report it.” niemanlab.org/2019/11/newson…
