The letter to the Tribune board was signed by Mr. Smith, a onetime Bear Stearns partner who runs Alden with its president, Heath Freeman. When Mr. Smith gained his Tribune board seat, after weeks of negotiations, he became the third executive from Alden or affiliated companies to join the Tribune board, which grew to seven seats, from six. Many Tribune Publishing reporters have denounced Alden’s growing presence, citing its practice of slashing newsroom costs. Among those who sought potential patrons to keep Tribune papers out of Alden’s control were two Chicago Tribune investigative reporters. That same year, Tribune cut the staff of The New York Daily News, once the nation’s largest-circulation newspaper, in half.

Source: New York Times December 31, 2020 13:28 UTC