Hedge Funds

Billionaires Push To Derail Hedge Fund Takeover Of Local Newspapers

by axios.com posted 5months ago 15 views
Two unlikely billionaires may be close derailing a massive newspaper deal that would've likely resulted in the loss of hundreds of local journalism jobs across the country. Driving the news: Maryland hotel magnate Stewart Bainum Jr. and Swiss billionaire Hansjörg Wyss have reportedly agreed to put up more than $600 million of their own money to help finance a roughly $680 million bid for Tribune Publishing, the parent to many of America's most iconic newspapers. Be smart: Alden Global Capital is a hedge fund known for cutting journalists at local papers to maximize profits.

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