“In a hedge fund’s bid for Tribune’s newspapers, a hidden risk lurks in the fine print”

“In its bid to acquire Tribune Publishing, the hedge fund Alden Global Capital vowed to provide $375 million in cash to the owner of the Chicago Tribune, the Baltimore Sun and other titles — a theoretically welcome influx to an investment-starved newspaper chain.

But industry and financial experts have looked at the fine print and see something starkly different: Alden, they say, has already signaled it plans to saddle Tribune with debt that could further hollow out the company, and it may not have $375 million available to begin with.”

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