What Alden’s potential acquisition of Lee Enterprises means for 20-plus Midwest papers

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A multi-million dollar proposal could land more than two dozen of the Midwest’s local newspapers in the hands of a New York-based hedge fund known for slashing its papers “to the bone.”

Alden Global Capital revealed a proposal Monday to purchase Lee Enterprises Inc. and its newspapers at $24 a share, casting alarm through the many newsrooms owned by Lee.

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