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.
FingerLakes1.com is the region’s leading all-digital news publication. The company was founded in 1998 and has been keeping residents informed for more than two decades. Have a lead? Send it to [email protected].