When the hedge fund Alden Global Capital bid to buy the newspaper chain Lee Enterprises in November, many journalists at Lee’s newspapers opposed a sale because Alden had slashed newsroom costs at the newspapers it owns.Lee’s largest shareholder, Cannell Capital, had a different complaint. J. Carlo Cannell, the firm’s leader, believed Alden’s offer was far too low. His reason: The price did not adequately figure in the potential of digital subscriptions.
Origen: Local Newspapers Find Hints of Success With Online Subscriptions – The New York Times
