Job Slashing Hedge Fund Bids to Buy Gannett and The Tennessean: Management ‘Has Not Demonstrated That It’s Capable of Effectively Running This Enterprise’

Hedge fund backed Digital First Media, which owns more than 200 newspapers and is known for its draconian cost cutting and job slashing, submitted a bid to buy Gannett for $1.3 billion on Monday. “Critics have described Alden as a “destroyer of newspapers” that is prone to “savage” layoffs and…

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