The runner-up bidder, Alden Global Capital, a New York hedge fund that controls more than 200 news outlets through MediaNews Group, lost out after having offered what amounted to approximately $210 million in debt and cash, according to a court filing. (An unspecified third party made a bid that was
WASHINGTON — Pacific Investment Management Company runs a hedge fund registered in the Cayman Islands, a common structure for avoiding certain U.S. taxes. But when a profit opportunity arose from the ashes of America’s coronavirus crisis, that international location did not stop it from seizing the moment.
The Federal Reserve
WASHINGTON — As the coronavirus began shuttering the global economy in March, critical parts of U.S. financial markets edged toward collapse. The shock was huge and unexpected, but the vulnerabilities were well known, the legacy of risk-taking outside of regulatory reach.
To head off a devastating downward spiral, the Federal
The move to hedge fund ownership is part of a growing trend in the news industry, much to the chagrin of media advocates who have argued that financial firms do not make good stewards of a business built largely on holding the powerful to account.
Chatham is a major investor
A battle of the hedge funds is brewing in the bankruptcy auction of the McClatchy Company, one of the nation’s largest and most decorated newspaper chains, pitting Chatham Asset Management and Brigade Capital Management, both debt holders in the chain, against a newcomer to the proceedings, Alden Global Capital.
Mr. Slaine, who lives in Boca Raton, Fla., added that he had some interest in buying The Sun Sentinel of South Florida, a Tribune Publishing paper.
In 2018, Dr. Patrick Soon-Shiong, a medical entrepreneur, bought The Los Angeles Times, The San Diego Union-Tribune and other California papers from Tribune Publishing,