Hedge fund Alden in hunt for another big newspaper chain, Sioux City Journal included

Published: Nov. 22, 2021 at 4:58 PM CST
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SIOUX CITY (KTIV) - Hedge fund Alden Global Capital, one of the country’s largest newspaper owners with a reputation for intense cost cuts and layoffs, has offered to buy the local newspaper chain Lee Enterprises for about $141 million. That would include the Sioux City Journal.

Alden said in a Monday press release that it sent Lee’s board a letter with the offer. It already owns 6% of Lee’s stock and is proposing to buy the rest for $24 a share.

A Lee spokesperson did not immediately reply to a request for comment.

Lee’s papers also include the Denison Bulletin & Review and the Omaha World-Herald. Many of the papers Lee owns include ones from smaller communities.

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