The Salt Lake Tribune – The newspaper industry knows little about the inner workings of Alden, a hedge fund that has been quietly making investments in distressed media companies for three years, while its representatives repeatedly ignore requests for interviews. They did not respond to several requests for comments for this story.
Alden’s buying spree is certain to have important implications for newspapers. Today, the fund is said to own a substantial part of MediaNews, whose holdings consist of 61 daily papers and about 100 nondailies. By the latter gauge, MediaNews is the No. 2 newspaper chain in the U.S. The remainder of the Denver-based chain is owned by a consortium of lenders and by Singleton himself.
