Hedge Fund Buys Newspaper Publisher

Jul 15 2011 | 11:40am ET

Alden Global Capital has developed quite the taste for newsprint and inky fingers.

The hedge fund has purchased the Journal Register Co., publisher of more than 100 newspapers and magazines in 10 states. Among the boradsheets owned by Journal Register are the New Haven Register in Connecticut, The Oakland Press in suburban Detroit, The Trentonian in Trenton, N.J., and two newspapers in the Albany, N.Y., area.

Terms of the deal were not disclosed. Alden has been an investor in Yardley, Pa.-based Journal Register since its 2009 bankruptcy filing.

"They know what we do, they like what we do, and today they are putting their money behind our efforts," Journal Register CEO John Paton said, calling the purchase a "ringing endorsement" of the company's digital-heavy strategy.

"Alden knows the media space well and has other newspaper company investments," Paton said. Indeed they do: The hedge fund helped finance the purchase of Philadelphia's two major newspapers last year and is a major investor in MediaNews Group, one of the largest newspaper publishers in the U.S.

In Depth

The Importance of Stability in the Evolving Hedge Fund Administration Market

Oct 5 2015 | 8:17pm ET

Hedge fund administration has evolved from simple record keeping to an integral,...


Citadel's Griffin Reaches Settlement in Contentious Divorce

Oct 8 2015 | 10:14pm ET

Billionaire hedge fund manager Ken Griffin and his wife have settled a long-running...

Guest Contributor

Hedge Fund Marketing To Independent RIA Firms

Sep 30 2015 | 1:56pm ET

In this contributed article, Bruce Frumerman of Frumerman & Nemeth Inc. explains...


Editor's Note