Alden Global Capital's Chicago Tribune Buys Suburban Daily Herald
The Chicago Tribune, owned by hedge fund Alden Global Capital, has struck a last-minute agreement to purchase the employee-owned Daily Herald, based in Arlington Heights, Illinois. The deal came after the Tribune placed several full-page ads, submitted an 11th-hour bid, and likely paid a premium price. The acquisition consolidates two major Chicago-area newspapers under Alden's control, raising concerns about media diversity and local news coverage.
Key facts
- The Chicago Tribune is owned by Alden Global Capital.
- The Daily Herald is employee-owned and based in Arlington Heights, Illinois.
- The deal was struck at the last minute.
- The Tribune used full-page ads and an 11th-hour bid.
- A premium price was likely paid.
- The acquisition consolidates two major Chicago-area newspapers.
- Alden Global Capital is a finance firm.
- The Daily Herald is a suburban newspaper.
Entities
Institutions
- Chicago Tribune
- Alden Global Capital
- Daily Herald
Locations
- Chicago
- Arlington Heights
- Illinois