After a protracted process with competing bidders, Alden Capital – a private equity minority shareholder in Tribune Publishing – has completed the purchase of the US regional news company for $633m. Tribune is now a private company and no longer on the stock market. Its news brands include the Chicago Tribune, New York Daily News, Baltimore Sun and the Hartford Courant. Employees of the publisher are apprehensive that the new owners will implement a heavy cost-cutting programme. The former CEO left the business on the day of the deal and its has also transpired that the deal leaves Tribune with $278m of debt to service, at least some of it said to be at relatively high interest rates.
Alden gets Tribune – finally
