A New York-based hedge fund is seeking to obtain majority ownership of The Baltimore Sun. Alden Global Capital
, also known as the "vampire hedge fund
," has a long history of bleeding newspapers dry by cutting staff to the bone and selling off vital assets, all while pocketing the profits for themselves. We worry communities will lose essential watchdogs while the company maximizes profit.
We want to prevent this from happening here by bringing ownership of The Sun back to Baltimore. The Sun sets the standard for coverage of everything from local and state government to sports and the arts. The Sun has already lost hundreds of reporting and office jobs. We cannot stand by and allow our daily newspaper to be decimated.