Alden Global Capital's unsolicited offer of $16.50 per share for The Dallas Morning News was rejected by its owner, Robert Decherd, who prioritizes the newspaper's integrity. Decherd, backed by the board, indicated strong disapproval of Alden's reputation for job cuts and adverse newspaper management. Alden's initial offer was crafted to appear favorable and supportive of the local paper, but subsequent communications indicated frustration at being ignored. Despite Alden's financial motivation, community commitment and ethical ownership were deemed more critical for the future of the newspaper.
Alden Global Capital expressed surprise at the rejection of its $16.50 offer for The Dallas Morning News, particularly since it wasn’t even considered for discussion.
Robert Decherd, a great-grandson of the paper’s co-founder, firmly stated he would not support Alden’s proposal under any circumstances, prioritizing the integrity of the newspaper.
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