bought its stake in Tribune in November 2019 and has three seats on its seven-member board. Tribune publishes nine major daily papers, including the New York Daily News, Chicago Tribune and Baltimore Sun.
Alden controls a major U.S. publisher whose papers include the Denver Post, Orange County Register and Boston Herald. It has a reputation for layoffs and intense cost-cutting even beyond the newspaper industry's overall turn in that direction.
The unions at Tribune papers have pushed for alternative buyers for the company's papers.The newspaper industry has been consolidating as it struggles with a digital transition and shrinking revenues.