Alden Capital Management LLC

Founded in 2007 by Randall D. Smith, Alden Global Capital LLC is a private investment firm and hedge fund based in West Palm Beach, Florida. The firm specializes in investing in distressed assets, including corporate debt and equity. Alden has become widely known for its significant and controversial role in the American newspaper industry. Through its control of MediaNews Group (MNG) and subsequent acquisition of Tribune Publishing, it has become one of the largest newspaper owners in the country. The firm is recognized for a business strategy that involves aggressive cost-cutting measures at the newspapers it acquires, a practice that has drawn significant criticism from journalists and community advocates for its impact on local news coverage.