Chicago Tribune owner Alden wants to acquire publisher of northwest suburban Daily Herald – Chicago Sun-Times

The Alden-Tribune pitch acknowledged Paddock’s unusual situation. It’s an employee-owned company and to support a bid from Alden, workers might want assurances about job security. Alden, however, is known for ruthless cost-cutting at its more than 200 daily and weekly newspapers. At the Tribune, it has reduced staff via several rounds of buyouts and layoffs since it took over in 2021.