Tribune Sale — In this April 12, 2006, file photo, flags wave near the Chicago Tribune Tower in downtown Chicago. Newspaper publisher Tribune has agreed to be sold to Alden Global Capital, a hedge fund known for cutting costs and eliminating newsroom jobs, in a deal valued at $630 billion. Tribune Publishing Co., which owns the Chicago Tribune, the New York Daily News, the Baltimore Sun and other newspapers, said Tuesday, Feb. 16, 2021, it has agreed to sell its shares to Alden for $17.25 apiece, in cash.

Arts & Culture

And Then There Was One: Hedge Fund Is Tribune Publishing’s Remaining Option

By Meha Ahmad

All roads may be leading to Alden Global Capital in the quest to purchase Tribune Publishing.

A few potential saviors cropped up in recent months, including a Maryland hotel executive and a Swiss billionaire. But neither of those buyers will be moving forward, leaving the hedge fund Alden Global Capital as possibly the only viable option on the table.

Reset explores what this means for the Chicago Tribune, its parent company and for the city’s news coverage.

GUEST: Gary Marx, former Chicago Tribune investigative reporter