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In December, Alden Global Capital made a preliminary proposal to buy Tribune Publishing for $520 million and take the company private.
Tribune Publishing made the decision to close the physical offices of several newsrooms, including The Daily News and the Orlando Sentinel.
For Q2 2020, Tribune Publishing reports a 39.7% increase in digital-only subscribers and a 49.9% increase in digital subscription revenue.
In this week’s subscription news, The New York Times lays off 68 staff, Amazon acquires Zoox, and Mercedes may cancel its vehicle subscription service.
The New York Times pulls out of Apple News, Alden Global Capital adds a board member to Tribune Publishing, and major brands boycott Facebook ads.
At their annual shareholders’ meeting last week, Tribune Publishing elected two directors from Alden Global Capital to its board, further tightening the firm’s grip on
Tesla delays the release of its semi until 2021; the Skimm cuts staff 20%, and Comcast struggles with the loss of revenue from theme parks,
Tribune Publishing is the latest newspaper to implement furloughs, NPR heads into steep cuts & YouTube creators are seeing sharp declines in AdSense rates.
Tribune Publishing, the Los Angeles Times and Vox Media are implementing furloughs, layoffs and salary reductions during the coronavirus crisis.
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