Are investment groups killing US newspapers?
Today about half of America’s newspapers are controlled by private equity, hedge funds and other investment groups. But as the FT’s James Fontanella-Khan explains, one name stands above the rest: Alden Global Capital. The Alden recipe is to get rid of the newsroom, sell the real estate, and viciously cut costs. Critics say it’s destroying local newspapers, but Alden says it’s saving them.