9 big things: Alden Global, Facebook and the future of news

Hedge funds are used to bad press. But it is rare for one to become as widely reviled as Alden Global Capital, a fund that’s grown infamous among journalists and politicians alike for its parsimonious approach to newspaper ownership. Alden’s empire of media outlets is vast, and its list of critics is impressive. Impressive might not be the right word there.  This week, Alden added to its portfolio with the acquisition of a 173-year-old newspaper icon, prompting fresh outcry about the fund’s outsized impact on an industry that’s more integral than most to the functioning of a healthy democracy. Meanwhile, half a world away, two of the world’s biggest tech companies were engaged in a high-profile battle of their own with the Australian government, one that could have major implications for the future of newspaper economics. A quarter century in, the news industry is still struggling to adapt to our internet age. And that’s one of nine things you need to know from the past week:   The famed newspapers in Alden Global’s portfolio keep piling up. (Peter Dazeley/Getty Images) 1. Read all about it For most of the 20th century,  » Read More