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2021-11-23
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Alden Global Looks to Buy Newspaper Publisher Lee Enterprises<blockquote>Alden Global 寻求收购报纸出版商 Lee Enterprises</blockquote>
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{"i18n":{"language":"zh_CN"},"detailType":1,"isChannel":false,"data":{"magic":2,"id":875647763,"tweetId":"875647763","gmtCreate":1637650460268,"gmtModify":1637650460440,"author":{"id":3555032609535572,"idStr":"3555032609535572","authorId":3555032609535572,"authorIdStr":"3555032609535572","name":"GohKS","avatar":"https://static.tigerbbs.com/ddc1a9348de7602d7224f258a5a3fa00","vip":1,"userType":1,"introduction":"","boolIsFan":false,"boolIsHead":false,"crmLevel":11,"crmLevelSwitch":0,"individualDisplayBadges":[],"wearingBadges":[],"fanSize":37,"starInvestorFlag":false},"themes":[],"images":[],"coverImages":[],"title":"","extraTitle":"","html":"<html><head></head><body><p>Please like and comment. Thank you.</p></body></html>","htmlText":"<html><head></head><body><p>Please like and comment. Thank you.</p></body></html>","text":"Please like and comment. Thank you.","highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/875647763","repostId":1118695727,"repostType":4,"repost":{"id":"1118695727","kind":"news","pubTimestamp":1637649901,"share":"https://www.laohu8.com/m/news/1118695727?lang=zh_CN&edition=full","pubTime":"2021-11-23 14:45","market":"us","language":"en","title":"Alden Global Looks to Buy Newspaper Publisher Lee Enterprises<blockquote>Alden Global 寻求收购报纸出版商 Lee Enterprises</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1118695727","media":"The Wall Street Journal","summary":"Hedge fund, which recently acquired Tribune Publishing, offers Lee $24 a share\nAlden Global Capital’","content":"<p>Hedge fund, which recently acquired Tribune Publishing, offers Lee $24 a share</p><p><blockquote>最近收购 Tribune Publishing 的对冲基金向 Lee 出价每股 24 美元</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/29015afc6f19290aab86e022f248022f\" tg-width=\"1290\" tg-height=\"860\" width=\"100%\" height=\"auto\"><span>Alden Global Capital’s deal earlier this year for Tribune Publishing brought newspapers including the Chicago Tribune under the hedge fund’s umbrella.</span></p><p><blockquote><p class=\"t-img-caption\"><span>今年早些时候，奥尔登全球资本公司（Alden Global Capital）收购《论坛报》（Tribune Publishing）的交易将包括《芝加哥论坛报》（Chicago Tribune）在内的报纸纳入了该对冲基金的旗下。</span></p></blockquote></p><p> New York hedge fund and U.S. newspaper consolidator Alden Global Capital LLC has made a proposal to take Lee Enterprises Inc. private in a deal that values the company at around $141 million.</p><p><blockquote>纽约对冲基金和美国报纸整合商 Alden Global Capital LLC 已提议将 Lee Enterprises Inc. 私有化，该交易对该公司的估值约为 1.41 亿美元。</blockquote></p><p> On Monday, Alden Global offered to purchase the Davenport, Iowa-based media company, which has news operations in 77 U.S. markets, for $24 a share in cash. Lee’s shares closed Friday at $18.49 and were up 46% so far for the year. On Monday, shares in Lee jumped 27% to $23.40.</p><p><blockquote>周一，Alden Global 提出以每股 24 美元现金收购这家总部位于爱荷华州达文波特的媒体公司，该公司在 77 个美国市场开展新闻业务。Lee 的股价周五收于 18.49 美元，今年迄今已上涨 46%。周一，Lee 股价上涨 27%，至 23.40 美元。</blockquote></p><p> In a statement later Monday, Lee Enterprises said it had received Alden’s bid and would review it.</p><p><blockquote>在周一晚些时候的一份声明中，Lee Enterprises 表示已收到 Alden 的投标，并将对其进行审查。</blockquote></p><p> The bid to buy Lee Enterprises marks the third major acquisition effort by Alden in the past two years, following a failed bid to acquire USA Today owner Gannett Inc. in 2019 and a successful move to purchase Baltimore Sun owner Tribune Publishing this year. Alden Global has been criticized by its employees and industry experts for aggressive cost-cutting, but its executives say the reductions help preserve newspapers.</p><p><blockquote>收购 Lee Enterprises 的收购标志着 Alden 在过去两年中的第三次重大收购努力，此前 2019 年收购《今日美国》所有者 Gannett Inc. 的收购失败，以及今年成功收购《巴尔的摩太阳报》所有者 Tribune Publishing。Alden Global 因其激进的成本削减而受到员工和行业专家的批评，但其高管表示，削减成本有助于保护报纸。</blockquote></p><p> Lee, whose publications include the St. Louis Post-Dispatch and Arizona Daily Star in Tucson,expanded last yearwhen it bought Berkshire Hathaway Inc.’s media-group newspaper business for $140 million. At the time, Lee was already managing dozens of newspapers for the company.</p><p><blockquote>李的出版物包括《圣路易斯邮报》和图森的《亚利桑那每日星报》，去年以 1.4 亿美元收购了伯克希尔-哈撒韦公司（Berkshire Hathaway Inc.当时，李已经为公司管理着几十家报纸。</blockquote></p><p> Around the same time, MNG Enterprises Inc., a company backed by Alden, said it bought a 5.9% stake in Lee and planned to discuss the company’s strategy with its management.</p><p><blockquote>大约在同一时间，奥尔登支持的 MNG Enterprises Inc.</blockquote></p><p> “We believe that as a private company and part of our successful nationwide platforms, Lee would be in a stronger position to maximize its resources and realize strategic value that enhances its operations and supports its employees in their important work serving local communities,” Alden Global said in a letter to Lee’s board of directors.</p><p><blockquote>“Alden Global 在致 Lee 董事会的一封信中说：”我们相信，作为一家私营公司和我们成功的全国平台的一部分，Lee 将处于更有利的地位，最大限度地利用其资源，实现战略价值，从而增强其运营，并支持其员工开展服务当地社区的重要工作。</blockquote></p><p> Lee Enterprises is one of a few American newspaper chains of considerable size not owned by Alden Global, whose MediaNews Group unit is the publisher of roughly 70 daily newspapers, including the Denver Post and San Jose Mercury News.</p><p><blockquote>Lee Enterprises 是少数几家不属于 Alden Global 的大型美国报业连锁店之一，Alden Global 的媒体新闻集团部门是大约 70 份日报的出版商，包括《丹佛邮报》和《圣何塞水星报》。</blockquote></p><p> The hedge fund has forged an American media empire over the past decade by acquiring newspapers and imposing aggressive cost reductions that critics say amount to gutting local journalism.In an interview with The Wall Street Journal in 2020, Mr. Freeman said he never closed a paper, though he has merged titles to cut costs.</p><p><blockquote>过去十年，这家对冲基金通过收购报纸和大幅削减成本，打造了一个美国媒体帝国，批评人士称，这相当于掏空了当地新闻业。弗里曼在 2020 年接受《华尔街日报》采访时表示，他从未关闭过报纸，尽管他合并了报纸以削减成本。</blockquote></p><p> Alden Global in 2019 clashed with USA Today publisher Gannett Co. when it made a bid to acquire the publisher and said that its management team hadn’t demonstrated it was capable of running the company effectively. Gannett rejected the bid and prevailed in a resulting proxy fight, retaining control of its entire board.</p><p><blockquote>2019 年，Alden Global 与《今日美国》出版商 Gannett Co.甘尼特拒绝了收购要约，并在随之而来的代理权争夺战中获胜，保留了对整个董事会的控制权。</blockquote></p><p> Meanwhile, Alden Global was building up its position in another eventual target: Tribune Publishing Co., which it eventually acquired earlier this year despite a rival effort led by hotel executive Stewart Bainum. The deal,which valued the company at $635 million, brought publications such as the Chicago Tribune and New York Daily News under Alden’s umbrella.</p><p><blockquote>与此同时，Alden Global 正在另一个最终目标中巩固自己的地位：Tribune Publishing Co.，尽管酒店高管斯图尔特·拜纳姆 (Stewart Bainum) 领导了竞争对手，但该公司最终还是在今年早些时候收购了该公司。这笔交易对公司的估值为 6.35 亿美元，将《芝加哥论坛报》和《纽约每日新闻》等出版物纳入了奥尔登的旗下。</blockquote></p><p> Jim Friedlich, chief executive of the Lenfest Institute for Journalism, the nonprofit owner of the Philadelphia Inquirer, said he expects Alden’s bid for Lee Enterprises to be successful in part because of the offer’s substantial premium.</p><p><blockquote>《费城问询报》的非营利所有者伦菲斯特新闻研究所（Lenfest Institute for Journalism）首席执行官吉姆-弗里德里希（Jim Friedlich）说，他预计奥尔登对李企业的收购会成功，部分原因是该收购的溢价很高。</blockquote></p><p> “While Alden’s cost-reduction practices have been widely criticized in the news business, no one can doubt their resolve and perseverance in completing deals once they show up at the table,” Mr. Friedlich said.</p><p><blockquote>“弗里德利希先生说：”虽然奥尔登的降低成本做法在新闻界受到了广泛批评，但没有人会怀疑他们一旦出现在谈判桌上就完成交易的决心和毅力。</blockquote></p><p> Brent Baird, an investor who said he owns roughly 2% of Lee Enterprises, said that he hasn’t decided yet whether he supports Alden Global’s bid for the newspaper group. He said he bought the stock after Lee Enterprises purchased the Buffalo News from Berkshire Hathaway.</p><p><blockquote>投资者布伦特-贝尔德（Brent Baird）说，他拥有李企业约 2% 的股份，他还没有决定是否支持奥尔登环球公司收购报业集团。他说，他是在 Lee Enterprises 从伯克希尔哈撒韦公司收购 Buffalo News 后购买这只股票的。</blockquote></p><p> “I didn’t buy my stock thinking that this was going to happen,” Mr. Baird said of Alden’s bid for Lee. “I bought the stock because it seemed reasonably priced.”</p><p><blockquote>“贝尔德先生在谈到奥尔登竞购李时说：”我买股票时并没有想到会发生这种情况。“我买这只股票是因为它的定价似乎很合理。”</blockquote></p><p> On Friday, The Wall Street Journal reported that Iranian hackers infiltrated Lee’s computer systems as part of a broader effort to spread disinformation about the 2020 presidential election.</p><p><blockquote>周五，《华尔街日报》报道称，伊朗黑客渗透了李明博的计算机系统，这是散布有关 2020 年总统大选虚假信息的更广泛行动的一部分。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Alden Global Looks to Buy Newspaper Publisher Lee Enterprises<blockquote>Alden Global 寻求收购报纸出版商 Lee Enterprises</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAlden Global Looks to Buy Newspaper Publisher Lee Enterprises<blockquote>Alden Global 寻求收购报纸出版商 Lee Enterprises</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">The Wall Street Journal</strong><span class=\"h-time small\">2021-11-23 14:45</span>\n</p>\n</h4>\n</header>\n<article>\n<p>Hedge fund, which recently acquired Tribune Publishing, offers Lee $24 a share</p><p><blockquote>最近收购 Tribune Publishing 的对冲基金向 Lee 出价每股 24 美元</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/29015afc6f19290aab86e022f248022f\" tg-width=\"1290\" tg-height=\"860\" width=\"100%\" height=\"auto\"><span>Alden Global Capital’s deal earlier this year for Tribune Publishing brought newspapers including the Chicago Tribune under the hedge fund’s umbrella.</span></p><p><blockquote><p class=\"t-img-caption\"><span>今年早些时候，奥尔登全球资本公司（Alden Global Capital）收购《论坛报》（Tribune Publishing）的交易将包括《芝加哥论坛报》（Chicago Tribune）在内的报纸纳入了该对冲基金的旗下。</span></p></blockquote></p><p> New York hedge fund and U.S. newspaper consolidator Alden Global Capital LLC has made a proposal to take Lee Enterprises Inc. private in a deal that values the company at around $141 million.</p><p><blockquote>纽约对冲基金和美国报纸整合商 Alden Global Capital LLC 已提议将 Lee Enterprises Inc. 私有化，该交易对该公司的估值约为 1.41 亿美元。</blockquote></p><p> On Monday, Alden Global offered to purchase the Davenport, Iowa-based media company, which has news operations in 77 U.S. markets, for $24 a share in cash. Lee’s shares closed Friday at $18.49 and were up 46% so far for the year. On Monday, shares in Lee jumped 27% to $23.40.</p><p><blockquote>周一，Alden Global 提出以每股 24 美元现金收购这家总部位于爱荷华州达文波特的媒体公司，该公司在 77 个美国市场开展新闻业务。Lee 的股价周五收于 18.49 美元，今年迄今已上涨 46%。周一，Lee 股价上涨 27%，至 23.40 美元。</blockquote></p><p> In a statement later Monday, Lee Enterprises said it had received Alden’s bid and would review it.</p><p><blockquote>在周一晚些时候的一份声明中，Lee Enterprises 表示已收到 Alden 的投标，并将对其进行审查。</blockquote></p><p> The bid to buy Lee Enterprises marks the third major acquisition effort by Alden in the past two years, following a failed bid to acquire USA Today owner Gannett Inc. in 2019 and a successful move to purchase Baltimore Sun owner Tribune Publishing this year. Alden Global has been criticized by its employees and industry experts for aggressive cost-cutting, but its executives say the reductions help preserve newspapers.</p><p><blockquote>收购 Lee Enterprises 的收购标志着 Alden 在过去两年中的第三次重大收购努力，此前 2019 年收购《今日美国》所有者 Gannett Inc. 的收购失败，以及今年成功收购《巴尔的摩太阳报》所有者 Tribune Publishing。Alden Global 因其激进的成本削减而受到员工和行业专家的批评，但其高管表示，削减成本有助于保护报纸。</blockquote></p><p> Lee, whose publications include the St. Louis Post-Dispatch and Arizona Daily Star in Tucson,expanded last yearwhen it bought Berkshire Hathaway Inc.’s media-group newspaper business for $140 million. At the time, Lee was already managing dozens of newspapers for the company.</p><p><blockquote>李的出版物包括《圣路易斯邮报》和图森的《亚利桑那每日星报》，去年以 1.4 亿美元收购了伯克希尔-哈撒韦公司（Berkshire Hathaway Inc.当时，李已经为公司管理着几十家报纸。</blockquote></p><p> Around the same time, MNG Enterprises Inc., a company backed by Alden, said it bought a 5.9% stake in Lee and planned to discuss the company’s strategy with its management.</p><p><blockquote>大约在同一时间，奥尔登支持的 MNG Enterprises Inc.</blockquote></p><p> “We believe that as a private company and part of our successful nationwide platforms, Lee would be in a stronger position to maximize its resources and realize strategic value that enhances its operations and supports its employees in their important work serving local communities,” Alden Global said in a letter to Lee’s board of directors.</p><p><blockquote>“Alden Global 在致 Lee 董事会的一封信中说：”我们相信，作为一家私营公司和我们成功的全国平台的一部分，Lee 将处于更有利的地位，最大限度地利用其资源，实现战略价值，从而增强其运营，并支持其员工开展服务当地社区的重要工作。</blockquote></p><p> Lee Enterprises is one of a few American newspaper chains of considerable size not owned by Alden Global, whose MediaNews Group unit is the publisher of roughly 70 daily newspapers, including the Denver Post and San Jose Mercury News.</p><p><blockquote>Lee Enterprises 是少数几家不属于 Alden Global 的大型美国报业连锁店之一，Alden Global 的媒体新闻集团部门是大约 70 份日报的出版商，包括《丹佛邮报》和《圣何塞水星报》。</blockquote></p><p> The hedge fund has forged an American media empire over the past decade by acquiring newspapers and imposing aggressive cost reductions that critics say amount to gutting local journalism.In an interview with The Wall Street Journal in 2020, Mr. Freeman said he never closed a paper, though he has merged titles to cut costs.</p><p><blockquote>过去十年，这家对冲基金通过收购报纸和大幅削减成本，打造了一个美国媒体帝国，批评人士称，这相当于掏空了当地新闻业。弗里曼在 2020 年接受《华尔街日报》采访时表示，他从未关闭过报纸，尽管他合并了报纸以削减成本。</blockquote></p><p> Alden Global in 2019 clashed with USA Today publisher Gannett Co. when it made a bid to acquire the publisher and said that its management team hadn’t demonstrated it was capable of running the company effectively. Gannett rejected the bid and prevailed in a resulting proxy fight, retaining control of its entire board.</p><p><blockquote>2019 年，Alden Global 与《今日美国》出版商 Gannett Co.甘尼特拒绝了收购要约，并在随之而来的代理权争夺战中获胜，保留了对整个董事会的控制权。</blockquote></p><p> Meanwhile, Alden Global was building up its position in another eventual target: Tribune Publishing Co., which it eventually acquired earlier this year despite a rival effort led by hotel executive Stewart Bainum. The deal,which valued the company at $635 million, brought publications such as the Chicago Tribune and New York Daily News under Alden’s umbrella.</p><p><blockquote>与此同时，Alden Global 正在另一个最终目标中巩固自己的地位：Tribune Publishing Co.，尽管酒店高管斯图尔特·拜纳姆 (Stewart Bainum) 领导了竞争对手，但该公司最终还是在今年早些时候收购了该公司。这笔交易对公司的估值为 6.35 亿美元，将《芝加哥论坛报》和《纽约每日新闻》等出版物纳入了奥尔登的旗下。</blockquote></p><p> Jim Friedlich, chief executive of the Lenfest Institute for Journalism, the nonprofit owner of the Philadelphia Inquirer, said he expects Alden’s bid for Lee Enterprises to be successful in part because of the offer’s substantial premium.</p><p><blockquote>《费城问询报》的非营利所有者伦菲斯特新闻研究所（Lenfest Institute for Journalism）首席执行官吉姆-弗里德里希（Jim Friedlich）说，他预计奥尔登对李企业的收购会成功，部分原因是该收购的溢价很高。</blockquote></p><p> “While Alden’s cost-reduction practices have been widely criticized in the news business, no one can doubt their resolve and perseverance in completing deals once they show up at the table,” Mr. Friedlich said.</p><p><blockquote>“弗里德利希先生说：”虽然奥尔登的降低成本做法在新闻界受到了广泛批评，但没有人会怀疑他们一旦出现在谈判桌上就完成交易的决心和毅力。</blockquote></p><p> Brent Baird, an investor who said he owns roughly 2% of Lee Enterprises, said that he hasn’t decided yet whether he supports Alden Global’s bid for the newspaper group. He said he bought the stock after Lee Enterprises purchased the Buffalo News from Berkshire Hathaway.</p><p><blockquote>投资者布伦特-贝尔德（Brent Baird）说，他拥有李企业约 2% 的股份，他还没有决定是否支持奥尔登环球公司收购报业集团。他说，他是在 Lee Enterprises 从伯克希尔哈撒韦公司收购 Buffalo News 后购买这只股票的。</blockquote></p><p> “I didn’t buy my stock thinking that this was going to happen,” Mr. Baird said of Alden’s bid for Lee. “I bought the stock because it seemed reasonably priced.”</p><p><blockquote>“贝尔德先生在谈到奥尔登竞购李时说：”我买股票时并没有想到会发生这种情况。“我买这只股票是因为它的定价似乎很合理。”</blockquote></p><p> On Friday, The Wall Street Journal reported that Iranian hackers infiltrated Lee’s computer systems as part of a broader effort to spread disinformation about the 2020 presidential election.</p><p><blockquote>周五，《华尔街日报》报道称，伊朗黑客渗透了李明博的计算机系统，这是散布有关 2020 年总统大选虚假信息的更广泛行动的一部分。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.wsj.com/articles/alden-global-looks-to-buy-newspaper-publisher-lee-enterprises-11637603842?mod=hp_lista_pos4\">The Wall Street Journal</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LEE":"李氏企业"},"source_url":"https://www.wsj.com/articles/alden-global-looks-to-buy-newspaper-publisher-lee-enterprises-11637603842?mod=hp_lista_pos4","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1118695727","content_text":"Hedge fund, which recently acquired Tribune Publishing, offers Lee $24 a share\nAlden Global Capital’s deal earlier this year for Tribune Publishing brought newspapers including the Chicago Tribune under the hedge fund’s umbrella.\nNew York hedge fund and U.S. newspaper consolidator Alden Global Capital LLC has made a proposal to take Lee Enterprises Inc. private in a deal that values the company at around $141 million.\nOn Monday, Alden Global offered to purchase the Davenport, Iowa-based media company, which has news operations in 77 U.S. markets, for $24 a share in cash. Lee’s shares closed Friday at $18.49 and were up 46% so far for the year. On Monday, shares in Lee jumped 27% to $23.40.\nIn a statement later Monday, Lee Enterprises said it had received Alden’s bid and would review it.\nThe bid to buy Lee Enterprises marks the third major acquisition effort by Alden in the past two years, following a failed bid to acquire USA Today owner Gannett Inc. in 2019 and a successful move to purchase Baltimore Sun owner Tribune Publishing this year. Alden Global has been criticized by its employees and industry experts for aggressive cost-cutting, but its executives say the reductions help preserve newspapers.\nLee, whose publications include the St. Louis Post-Dispatch and Arizona Daily Star in Tucson,expanded last yearwhen it bought Berkshire Hathaway Inc.’s media-group newspaper business for $140 million. At the time, Lee was already managing dozens of newspapers for the company.\nAround the same time, MNG Enterprises Inc., a company backed by Alden, said it bought a 5.9% stake in Lee and planned to discuss the company’s strategy with its management.\n“We believe that as a private company and part of our successful nationwide platforms, Lee would be in a stronger position to maximize its resources and realize strategic value that enhances its operations and supports its employees in their important work serving local communities,” Alden Global said in a letter to Lee’s board of directors.\nLee Enterprises is one of a few American newspaper chains of considerable size not owned by Alden Global, whose MediaNews Group unit is the publisher of roughly 70 daily newspapers, including the Denver Post and San Jose Mercury News.\nThe hedge fund has forged an American media empire over the past decade by acquiring newspapers and imposing aggressive cost reductions that critics say amount to gutting local journalism.In an interview with The Wall Street Journal in 2020, Mr. Freeman said he never closed a paper, though he has merged titles to cut costs.\nAlden Global in 2019 clashed with USA Today publisher Gannett Co. when it made a bid to acquire the publisher and said that its management team hadn’t demonstrated it was capable of running the company effectively. Gannett rejected the bid and prevailed in a resulting proxy fight, retaining control of its entire board.\nMeanwhile, Alden Global was building up its position in another eventual target: Tribune Publishing Co., which it eventually acquired earlier this year despite a rival effort led by hotel executive Stewart Bainum. The deal,which valued the company at $635 million, brought publications such as the Chicago Tribune and New York Daily News under Alden’s umbrella.\nJim Friedlich, chief executive of the Lenfest Institute for Journalism, the nonprofit owner of the Philadelphia Inquirer, said he expects Alden’s bid for Lee Enterprises to be successful in part because of the offer’s substantial premium.\n“While Alden’s cost-reduction practices have been widely criticized in the news business, no one can doubt their resolve and perseverance in completing deals once they show up at the table,” Mr. Friedlich said.\nBrent Baird, an investor who said he owns roughly 2% of Lee Enterprises, said that he hasn’t decided yet whether he supports Alden Global’s bid for the newspaper group. He said he bought the stock after Lee Enterprises purchased the Buffalo News from Berkshire Hathaway.\n“I didn’t buy my stock thinking that this was going to happen,” Mr. Baird said of Alden’s bid for Lee. “I bought the stock because it seemed reasonably priced.”\nOn Friday, The Wall Street Journal reported that Iranian hackers infiltrated Lee’s computer systems as part of a broader effort to spread disinformation about the 2020 presidential election.","news_type":1,"symbols_score_info":{"LEE":0.9}},"isVote":1,"tweetType":1,"viewCount":3323,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"CN","currentLanguage":"CN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":30,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ZH_CN"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/875647763"}
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