2018-04-10 15:15:15

Denver Post Revolts Against Its “Vulture” Hedge-Fund Owner & Demands 126-Year-Old Newspaper Be Saved

The Denver Post has launched a revolt against its owner: New York-based hedge fund Alden Global Capital. On Sunday, The Denver Post’s editorial board published a lead editorial headlined “As vultures circle, The Denver Post must be saved.” Alden Global Capital is the parent company of Digital First Media, one of the country’s largest newspaper chains. Since 2010, Digital First Media has slashed budgets and staff at newspapers across the country, including the Oakland Tribune, The San Jose Mercury News and the St. Paul Pioneer Press. Alden Global Capital is backed by founder and chief of investments Randall Smith and president Heath Freeman. Both are known on Wall Street as vulture capitalists who make their money investing in distressed businesses and selling them off. DN! speaks with Ricardo Baca, the former cannabis editor at The Denver Post, who wrote one of the op-eds, titled “When a hedge fund tries to kill the newspapers it owns, journalists must fight back.” Baca worked at the Post for 16 years and is now the CEO and founder of Grasslands.

Alden Global Capital Denver Post Digital First Media Grasslands Heath Freeman Oakland Trubune Paul Pioneer Press Randall Smith The San Jose Mercury News Wall Street

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