Denver Post Revolts Against Its “Vulture” Hedge-Fund Owner & Demands 126-Year-Old Newspaper Be Saved
April 10, 2018
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8:11Now PlayingDenver Post Revolts Against Its “Vulture” Hedge-Fund Owner & Demands 126-Year-Old Newspaper Be Saved
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as posted by the channelThe Denver Post has launched a revolt against its ownerNew Yorkbased 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. For more, we speak with Ricardo Baca, the former cannabis editor at The Denver Post, who wrote one of the opeds, 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.
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