fbpx

Home » Lee Enterprises, Owner of Richmond Times-Dispatch and Other Publications, Rejects Alden’s Buyout Offer

Capitol Communicator has a report that the United States continues to see newspapers die at the rate of two per week.

Lee Enterprises, Owner of Richmond Times-Dispatch and Other Publications, Rejects Alden’s Buyout Offer

by | Dec 10, 2021

The board of Lee Enterprises, a publicly traded company that owns daily newspapers and other publications serving 77 markets, has unanimously rejected Alden’s unsolicited proposal to buy it. Lee’s papers include the Richmond Times-Dispatch.

In a statement, Lee chair Mary Junck said Alden’s proposal “grossly undervalues Lee and fails to recognize the strength of our business today.”

According to CNN, “Alden has garnered a reputation for destroying local newsrooms. In a recent cover story for the Atlantic,  journalist McKay Coppins wrote, “There’s little evidence that Alden cares about the ‘sustainability’ of its newspapers.” Vanity Fair described Alden as the “grim reaper of American newspapers.” The editorial board at the Denver Post published an editorial in 2018 that called Alden, the parent company of the paper’s owner, “vulture capitalists” after the hedge fund implemented deep cuts.”

More here.

About the Author

Capitol Communicator

Capitol Communicator is a unique online and offline resource for Mid-Atlantic advertising, marketing, public relations, digital and media communications professionals. The e-magazine, e-newsletters and events bring together communications professionals, fostering community and providing important information; news; trends; education; and opportunities for networking, career enhancement, business exchange and showcasing great work. Visit www.capitolcommunicator.com to learn more.

0 Comments

Submit a Comment

Your email address will not be published.

Sponsors

Brand Creep

CAPITOL COMMUNICATOR CAREER CENTER SEARCH RESULTS (JOBS IN MULTIPLE LOCATIONS)

MEDIA KIT

Recent Comments

Categories

SEARCH FOR ADVERTISING, MARKETING & PR AGENCIES, PROFESSIONALS AND SERVICES

Find out more  Powered by COMMUNICATIONSMATCHTM

REGISTER.
CHOOSE AN AGENCY OR INDIVIDUAL DIRECTORY OR COMPREHENSIVE PROFILE PLAN.

Find out more  Powered by COMMUNICATIONSMATCHTM

REGISTER.CHOOSE AGENCY SELECT
TO REQUEST MORE INFORMATION & STREAMLINE RFPs

Find out more  Powered by COMMUNICATIONSMATCHTM