Op-Ed: How to stop hedge funds from wrecking local news
With Alden Global Capital’s recent acquisition of the Tribune Publishing newspaper chain, the country has reached a troubling milestone: Half of the daily newspaper circulation in America is now owned by hedge funds.
This is a real threat to democracy, because hedge funds and private equity firms have a track record of cutting the reporting staff of local newsrooms to increase profits. We must stop viewing this trend as inevitable. We need to confront it head on, including with public policies.