Hedge fund Alden Global Capital’s MNG Enterprises
has taken a 5.9% stake in Lee Enterprises. The move came on the heels
of the Jan. 29 announcement that Lee is buying Warren Buffett’s BH Media Group
publications and The Buffalo News for $140 million in cash.
Various
media watchers reacted to the news.
Nieman Lab
Director Joshua Benton took a dim view of the news, while the NewsGuild’s
Julia Reynolds provided info on MNG’s background, parts of which are “shrouded
in secrecy,” claims Reynolds.
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