A hedge fund’s ‘mercenary’ strategy: Buy newspapers, slash jobs, sell the buildings

Alden Global Capital says it is saving newspapers. Records show its subsidiaries are profiting from the remnants of their demise.

via Washington Post: https://www.washingtonpost.com/business/economy/a-hedge-funds-mercenary-strategy-buy-newspapers-slash-jobs-sell-the-buildings/2019/02/11/f2c0c78a-1f59-11e9-8e21-59a09ff1e2a1_story.html?noredirect=on&utm_term=.af40237ce28c

But Twenty Lake Holdings is not just another commercial real estate investor. It is a subsidiary of Alden Global Capital, the New York City hedge fund that backed the purchase of and dramatic cost-cutting at more than 100 newspapers — causing more than 1,000 lost jobs.