Recently, staff from the Denver Post traveled to New York City to protest in front of the skyscraper owned by hedge fund Alden Capital. The editor of the Post had resigned over on-going Draconian staff layoffs.
In the years since Alden Capital acquired the Post in 2010 the paper had gone from a staff of over 200 to less than 100. The newspaper has been ordered to layoff another 30 employees by July.
The company’s records are not available because it is privately owned but a study done by a professor of journalism has estimated that they have been generating a 17% profit.
So what is the local link? This hedge fund also owns the Saratogian. The Saratogian has also been decimated. While Joseph Phelan does a very good job on the stories he covers, unfortunately the paper no longer has the resources to properly cover the city and the county.
Here is a link to the New York Times story. https://www.nytimes.com/2018/05/08/business/media/denver-post-alden-protest.html