In a letter to Tribune Publishing, state treasurers from Maryland, Connecticut, and Illinois encouraged the company to consider again the offer of $18.50/share from Maryland investor Stewart Bainum, Jr. The three state leaders – Nancy K. Kopp (Maryland), Shawn T. Wooden (Connecticut), and Michael W. Frerichs (Illinois) – have witnessed the damage caused by Alden’s liquidation strategy for news outlets at MediaNews Group, a pattern that has been repeated at Tribune Publishing since Alden bought into the company in fall 2019 and was rewarded with two board seats: “Our communities are ill-served by such dramatic cuts in news coverage,” they wrote.