Hedge fund makes bid for Auburn Citizen parent company

A hedge fund that is one of the nation’s largest newspaper owners is reportedly making a bid for the parent company of the Auburn Citizen.

The paper quotes an Associated Press story saying Alden Global Capital has made a $141 million offer for Lee Enterprises. Among Lee’s other New York papers are the Buffalo News and Glens Falls Post-Star.

Earlier this year, Alden purchased the Tribune newspapers in a deal that drew opposition from employees and the communities the papers serve, including Chicago, St. Louis and Baltimore. Alden has a reputation for staff layoffs at the papers it takes over.

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