Lee Enterprises has been quietly laying off top editors and other staff across its local papers. The cost-cutting moves come after an unsolicited takeover bid from Alden Global Capital, a hedge fund known for consolidating local news for profit.
Why it matters: Journalists at Lee-owned papers across the U.S. say that at this point, they don't know whether staying independent or a hedge fund takeover is worse. "If Alden is a cancer on journalism, Lee is COVID, MRSA and SARS," one former editor told Axios.
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