Tribune in $630 Million Sale Deal to Hedge Fund

Chicago Tribune: Tribune Publishing has agreed to be acquired by Alden Global Capital in a deal valued at $630 million. The deal follows weeks of negotiations between a special committee of Tribune Publishing’s board and Alden, a hedge fund with a history of deep cost-cutting at its other newspaper properties. As part of the deal, Alden signed a nonbinding agreement to sell the Baltimore Sun to Sunlight for All Institute, a public charity formed by Stewart Bainum Jr.