Hedge funds and other financial firms now own nearly 1/3 of the daily newspapers in America.
60 Minutes episode tonight was about the decline of local newspapers (gazettes, tribunes and journals) due in part to ruthless hedge funds buying them up. Hedge fund, Alden Global Capital, has been called a “vulture,” bleeding newspapers dry. This secretive hedge fund — their website shows a single photo — started building its print empire … Read more