New York Hedge Fund Scoops Up Chicago Reader | WBEZ
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Eight Forty-Eight

New York Hedge Fund Scoops Up Chicago Reader

The Chicago Reader's parent company, Creative Loafing Inc., was bought by its largest creditor, Atalaya Capital Management, a New York hedge fund. Atalaya has no experience running a paper, but it has hired a couple of old media hands for editorial advice: James O'Shea, the former managing editor of the Chicago Tribune, and Richard Gilbert, the one-time chief executive of suburban-based Pioneer Press. Chicago Reader media columnist Michael Miner talks about his new bosses.

Music Button: Powerhouse Sound, "New Dirt", from the CD Oslo/Chicago: Breaks, (Atavistic records)

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