The Tampa Bay Times will get a $21 million cash infusion after selling its former printing plant and the 27 acres it sits on in a deal announced Tuesday.
The buyer is Twenty Lakes Holdings, a commercial real estate subsidiary of hedge fund Alden Global Capital. Alden has gained notoriety in recent years for aggressively seeking acquisitions in the newspaper industry — most recently when it bought Tribune Publishing in May — then drastically cutting newsrooms and other costs.
This, however, appears to be just a real estate transaction.
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