MediaNews Group has bought a group of 11 community papers
owned by Red Wing Publishing, the Star Tribune reported.
MediaNews is owned by hedge fund Alden Global
Capital.
Terms of the deal weren’t made public.
In the sale, MNG bought the assets of a number
of suburban Twin Cities papers as well as publications in Litchfield, Hutchinson and International
Falls
Family-owned Red Wing Publishing’s Arlin Albrecht
told the Star Tribune that following the sale, “there are certainly going to be
changes that we will be melancholy about.” But he said the “best prospect for
sustainability for the staff is a large organization with financial
wherewithal.”
Red Wing Publishing is the parent of Big Fish
Works, which runs three news groups.
The acquisition also includes a digital
marketing agency and two commercial printing plants.
News and Tech
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