A Tug of War Between a Billionaire and a Hedge Fund Over Local News

Alden Global Capital, a hedge fund known for its cost-cutting approach to local newspapers, had made a bid to buy Tribune Publishing, a conglomerate of local papers including the Chicago Tribune and the Baltimore Sun. Then, a billionaire put in an offer of his own. WSJ's Lukas Alpert details the face-off between the hedge fund and the billionaire, which could forever change the newspapers caught in the middle. Learn more about your ad choices. Visit megaphone.fm/adchoices