Hedge Fund Alden to Buy Tribune Publishing in Deal Valued at $630 Million

Tribune Publishing, publisher of the Chicago Tribune and other major newspapers, has agreed to be acquired by Alden Global Capital in a deal valued at $630 million.

Announced Tuesday after the stock market closed, the deal would create one of the largest newspaper operators in the United States. It follows weeks of negotiations between a special committee of Tribune Publishing’s board and Alden, a hedge fund with a history of deep cost-cutting at its other newspaper properties.

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