Hedge fund Alden to buy Tribune Publishing in deal valued at $630 million
The Chicago Tribune newsroom at One Prudential Plaza on June 12, 2018. - Brian Cassella / Chicago Tribune / Chicago Tribune/Chicago Tribune/TNS

CHICAGO — Tribune Publishing, publisher of the Chicago Tribune and other major newspapers, has agreed to be acquired by Alden Global Capital in a deal valued at $630 million. Announced Tuesday after the stock market closed, the deal would create one of the largest newspaper operators in the United States. It follows weeks of negotiations between a special committee of Tribune Publishing’s board and Alden, a hedge fund with a history of deep cost-cutting at its other newspaper properties. Alden, already Tribune Publishing’s largest shareholder with a 31.6% stake, is offering $17.25 a share for ...