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Newspaper Publisher Lee Enterprises Enacts Plan to Prevent Takeover by Cost-Cutting Hedge Fund Alden Global Capital

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Bloomberg and other sources reported that Alden Global had offered to acquire Lee in a deal that would value the publishing company at a $142 million.

Alden Global has a reputation for aggressive cost cutting, although Alden Global executive Heath Freeman told the Wall Street Journal in an interview last year that the hedge fund had never closed a newspaper, although it has a history of merging titles and slashing staff to cut costs.Lee owns the St.

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