It’s this: Alden Global Capital has been horrible for the Hartford Courant. There was news this week that the hedge fund is trying to acquire Tribune, which owns the Courant and eight other major newspapers. Alden is already Tribune’s largest shareholder.
Our friends at the Courant are doing their best to hold the place together. Of course, they’ll have to do it from their respective homes, as their building is going to be sold. Social media was full of sad images of reporters cleaning out their workspaces. The newsroom union, the Hartford Courant Guild, posted recently:
Since Alden Global Capital acquired a stake in tribune, The Courant has seen buyouts, furloughs, payouts and the closure of our newsroom. Aldean taking full control of the chain would be disastrous for or paper and for journalism nationwide.
We join the Guild in its New Year’s wish:
May 2021 be the year The Hartford Courant gets the committed local ownership it deserves.