Stephen E. Arnold: Hedge Fund Fraud Kills Newspapers?

Commerce, Commercial Intelligence, Corruption, Media
Stephen E. Arnold

Hedge fund Alden siphoned 100s of millions from newspapers in scheme to gamble on other investments, suit says

The lawsuit’s account of millions of dollars in newspaper funds being spent to finance Alden’s independent investments hit hard in DFM newsrooms struggling after job cuts. Some worksites have endured staff reductions of more than 40 percent in the last two years alone. Venerable nameplates have vanished or been consolidated, including the Oakland Tribune, now reborn as part of the regional East Bay Times.

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