Denver Post in Open Rebellion Against Its Hedge Fund Owner

April 8, 2018 James Heinsman In the News

Pulitzer Prize winning Denver Post finally decided to take action to improve what was becoming an increasingly untenable position for the 125-year-old newspaper. Over the weekend the paper went to its own opinion page declaring “News Matters- Colorado should demand the newspaper it deserves.”

This move was a response to a problem that effects newspapers all over the country as people get their news online instead of in print, creating revenue losses that are hard to replace.

Midsize newspapers like the Denver Post find their situation especially difficult. The decision was made to go public with their particular issue to try and avoid going bankrupt or just becoming irrelevant.

The main editorial blasts executives at Alden Global Capital, the paper’s hedge fund owner as “vulture capitalists.”

The editorial continued: “We call for action. Denver deserves a newspaper owner who supports its newsroom. If Alden isn’t willing to do good journalism here, it should sell The Post to owners who will.”

The Post has a weekday circulation of about 170,000 in a city of about 700,000 residents. Their website gets about 8.6 million unique monthly visits. It has won nine Pulitzer Prizes one of which was in 2013 for their coverage of the mass shooting in a movie theater in Aurora, Colorado. Alden Global Capital took control of the paper in 2010 when it bought its parent company, MediaNews Group after it went bankrupt. Alden runs the paper through a subsidiary, Digital First Media.

Readers showed support for the Post’s plight.

Alden Global Capital, Denver Post, MediaNews Group, Pulitzer Prize,

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