In Nebraska, where Lee owns 12 newspapers, Omaha World-Herald News Guild President Todd Cooper said an Alden takeover would harm local, daily news in the state and region. Occasionally, I get some really interesting calls. Usually, it follows a formula: The customer calls, I take their classified ad, I get payment from them, repeat. The plan would sell new shares to current stockholders at premium prices, making Alden’s takeover bid more difficult and less attractive. Most of what I do at the Lincoln Journal Star is business over the phone. Lee’s board quickly adopted a “poison pill” plan which dilutes shares if Alden begins staging a hostile takeover. The hedge fund offered $24 per Lee share, or roughly $141 million. The hedge fund’s proposal to purchase Lee Enterprises and its many newspapers came in late November, casting alarm through Lee-owned newsrooms. Lee Enterprises is headquartered in Davenport, Iowa and owns ten newspapers in the state. Alden is not entitled to invent its own process for its convenience.”Īlden did not immediately respond to a request for comment. “Alden’s failure is entirely of its own making. “Alden’s hasty and convoluted attempt to work around our simple and common procedure on the eve of the nomination deadline does not meet the clear requirements of Lee’s bylaws,” a statement from Lee read. Lee said in a statement that Alden made its nominations through a third-party that does not own Lee shares and “failed to meet the most basic and most important requirements” on the nomination process. Forgotten no more: First slave freed by Abraham Lincoln in Illinois now being honored. During its purchase of Tribune Publishing, the hedge fund slowly gained seats on Tribune’s board as part of its strategy for acquiring control of the company. Delivering the Lincoln Journal Star is a great way to earn extra income without interfering with your daily routine. Gaining seats on the boards of companies it hopes to purchase is a tactic Alden has used in past takeovers. , your source for the latest news in Nebraskas capital city and the surrounding area. The deadline for nominees to Lee’s board has passed, however, and Lee says Alden will not be able to try again. The nominees would have been considered at the company’s 2022 quarterly meeting next Thursday. Louis Post Dispatch, the Omaha World-Herald and many other daily newspapers throughout the region, is staving off a takeover attempt by Alden Global Capital, a New-York based hedge fund.Īlden is infamous for slashing jobs at the newspapers it purchases, among other cost-saving measures. On Friday, Lee rejected a trio of nominees Alden Global Capital nominated to its board of directors, claiming the nominations are invalid due to an error Alden made in the filing process that violated the board’s by-laws. publishing operations, said in an announcement of the appointment.A fight for control of 77 newspapers, 24 of which are located in the Midwest, continues as a hedge fund known for slashing newspapers hit a speed bump in its plans to acquire Lee Enterprises Inc. "Todd's uncanny ability to get the most out of his staff and grow the business in innovative ways make him the perfect leader for the Springfield market," Brad Harmon, president of GateHouse's central U.S. Sears has been at the Richmond paper for two years. He joined BH Media, owner of the Richmond paper, as director of advertising for the Press of Atlantic City in 2013. He joined Capital Newspapers in Madison, Wisconsin, in 2006 as advertising director and later was named general manager. He has held advertising management jobs in Racine, Wisconsin Beatrice, Nebraska and Lincoln, Nebraska. Sears began his media career 23 years ago at his hometown newspaper, the Lincoln Journal Star in Lincoln, Nebraska. It means something, and together we can make it mean something more to everybody in this market." "The State Journal-Register does resonate with the community. "This newspaper has deep ties," said Sears. "This is a market that, as I drive around, I see primed for really good things, and I'm excited to be a part of that. "As an organization, this is a great team of people that is very passionate about what they do," Sears said after a meeting with local employees on Wednesday. PEKIN, Illinois A Black woman who was born a slave, Nance Legins-Costley and her extraordinary story didn. He succeeds Rosanne Cheeseman, who was named interim publisher in April. Forgotten no more: First slave freed by Abraham Lincoln in Illinois now being honored. 29, said an announcement Wednesday from GateHouse Media, parent company of The State Journal-Register and the Lincoln Courier. Todd Sears, currently vice president of advertising and revenue at The Richmond-Times Dispatch in Richmond, Virginia, begins his new duties on Aug. A Virginia newspaper executive has been named publisher of The State Journal-Register and the Lincoln Courier.
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