Alden Closes $633 Million Purchase of Tribune Publishing


It didn’t take long for Alden Global Capital to put its imprint — and significant debt — on Tribune Publishing, after closing its $633 million acquisition of the Chicago-based newspaper chain Monday.

The New York-based hedge fund leveraged Tribune Publishing with two loans totaling $278 million, removed CEO Terry Jimenez and installed Alden President Heath Freeman to lead the company, according to a Securities and Exchange Commission filing Tuesday.

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