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Newsroom unions urge Lee to reject Alden’s offer
$144M purchase would make hedge fund owner of 30+ Va. newspapers
A dozen Lee Enterprises newsroom unions, including three in Virginia, wrote an open letter to company management Monday, urging Lee to reject Alden Global Capital’s purchase offer of approximately $144 million. “Alden has cut their staffs at twice the rate of competitors, resulting in the loss of countless jobs,” the letter reads. “They’ve fostered unhealthy
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Alden Global Capital seeks to buy Lee Enterprises for $144M
Deal would see most Virginia newspapers owned by one company
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Alden Global Capital, the hedge fund that owns The Virginian-Pilot and Daily Press in Virginia, has proposed purchasing Lee Enterprises, the Iowa-based owner of the Richmond Times-Dispatch and most other major Virginia newspapers, for approximately $144 million, Alden announced Monday. If accepted, the $24 per share purchase price would consolidate 12 of Virginia’s daily legacy
Gannett sells business media, marketing subsidiary
McLean-based newspaper publisher sells BridgeTower Media to Transom Capital Group
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McLean-based Gannett Co. Inc., the nation’s largest newspaper publisher, sold its business media and B2B marketing subsidiary, BridgeTower Media, to Los Angeles-based middle-market private equity firm Transom Capital Group, the company announced last week. Financial terms of the sale were not disclosed. Through more than 40 digital and print brands, BridgeTower Media provides media and