INSIDER
Washington Post becomes second major US newspaper this week to not endorse a presidential candidate
Read full article: Washington Post becomes second major US newspaper this week to not endorse a presidential candidateThe Washington Post says it won't endorse a candidate for president in this year’s tightly contested race and would avoid doing so in the future.
South African president launches vaccine manufacturing plant
Read full article: South African president launches vaccine manufacturing plantSouth African President Cyril Ramaphosa has opened a new vaccine manufacturing facility that he says will boost the country’s capacity to make its own inoculations for diseases including COVID-19.
Alternative bidders emerge for newspaper chain Tribune
Read full article: Alternative bidders emerge for newspaper chain TribuneA group of alternative bidders is emerging, in late March 2021, for newspaper chain Tribune Publishing, which had agreed to a $630 million deal with hedge fund Alden Global Capital. (AP Photo/Kiichiro Sato, File)A group of alternative bidders is emerging for newspaper chain Tribune Publishing, which had agreed to a $630 million acquisition by hedge fund Alden Global Capital. The Times reported that both would commit up to $100 million to the $650 million bid. The unions at Tribune papers have pushed for alternative buyers for the company’s papers. Gregory Pratt, a Chicago Tribune reporter and the head of the paper's guild, said they are “heartened” by Wyss' interest.
Tribune agrees to purchase by hedge fund for $630 million
Read full article: Tribune agrees to purchase by hedge fund for $630 millionFILE - In this April 12, 2006, file photo, flags wave near the Chicago Tribune Tower in downtown Chicago. Newspaper publisher Tribune has agreed to be sold to Alden Global Capital, a hedge fund known for cutting costs and eliminating newsroom jobs, in a deal valued at $630 billion. (AP Photo/Charles Rex Arbogast, File)CHICAGO – The newspaper publisher Tribune has agreed to be sold to Alden Global Capital, a hedge fund known for cutting costs and eliminating newsroom jobs, in a deal valued at $630 million. Alden became Tribune Publishing’s largest shareholder in 2019; it holds a 32% stake. AdThe success of the Tribune deal hinges on securing the votes of biotech billionaire and Los Angeles Times owner Patrick Soon-Shiong, who owns about 24% of Tribune Publishing, and shareholder Mason Slaine, a former media executive who owns about 8%, according to the Chicago Tribune.
LA Times executive editor Norman Pearlstine steps down
Read full article: LA Times executive editor Norman Pearlstine steps downLOS ANGELES – Los Angeles Times Executive Editor Norman Pearlstine has stepped down after two and a half years heading a newspaper roiled by management shakeups, a drop in revenue and questions about its commitment to newsroom diversity. Pearlstine announced in October that he planned to retire but would stay on to help with the search for a new top editor. The Times’ owner and executive chairman Dr. Patrick Soon-Shiong wrote Monday in a note to staff that Pearlstine was no longer overseeing the newsroom and had shifted to an advisory role, the newspaper reported. The paper recently hired a search firm to manage the process to find a new executive editor, which is expected to take several months, the Times said. I also recognize it’s the right time to find a successor — an editor who embodies the qualities needed to continue the Times’ revival.”