Chicago, Ilinois-based Tribune Publishing Company, a newspaper print, and online media publishing company, is in play.
Caught between a hedge fund, New York-based Alden Global Capital, and a billionaire Maryland-based hotel magnate, Stewart Bainum, one thing is certain, the employees are faced with restructuring, divestiture, cost-cutting, and increased automation.
Allegedly there was a side deal with Alden Chief Executive Heath Freeman where Bainum could purchase the Baltimore Sun. A fight over terms ensued and Bainum tried to purchase the entire company.
According to a Bainum spokesperson, "No one is going to squeeze Stewart Bainum. When he makes a deal, he sticks to it. Anyone who tries to change the terms is messing with the wrong guy.”
Mr. Bainum allegedly bid $680 million bid against Alden's $635 million. As the price rises, so does the need for consolidation and aggressive cost-cutting to allow for an adequate return on investment. Or, the alternative, each party keeps what they want and divests the remaining pieces of the corporation.
The wild-card is the owner of the Los Angeles Times, Patrick Soon-Shiong, with about 25% of Tribune stock.
Considering the decline in print media and the rise of near real-time citizen journalism, there is also the possibility that the company can be turned into a tax-advantaged foundation.
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?