'Blindsided': Press Democrat staff stunned as hedge fund takes over newspaper
Briefly

Journalists at Santa Rosa Press Democrat were caught off guard when they received news that their newspaper had been sold not to Hearst, as expected, but to MediaNews Group, a subsidiary of Alden Global Capital. Christopher Chung, the union president, expressed shock at the change after preparation for a different potential owner. The email confirmed the deal was immediate, with MediaNews aiming to support local newsgathering while optimizing operations, marking a significant shift for the prominent regional paper founded in 1897.
We were absolutely taken off guard and blindsided by the news," said Christopher Chung, Press Democrat visual journalist and president of the newsroom's union, Pacific Media Workers Guild Local 39521. "We were having our regular prep in preparation for dealing with Hearst as a company and meeting with other bargaining units within Hearst to strategize. That's how sure we were that this deal was going to happen.
This valued acquisition enables our family of news organizations to advance its stewardship in California as the largest provider of news and information across the state," wrote Sharon Ryan, executive vice president for the partnership, which includes MediaNews and Tribune Publishing.
Read at SFGATE
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