Daily News workers walk out to protest owners Alden Global Capital who ‘shrink the budget to fill their pockets’

January 26, 2024

The 104-year-old tabloid was scooped up by notorious vulture hedge fund Alden Global Capital, which owns more than 200 newspapers, as part of a $633 million acquisition of Tribune Publishing in May 2021. Under Alden’s thumb, Daily News workers have “quit in droves” — while new policies require the skeleton staff to get pre-approved for overtime pay. 3 New York Daily News journalists staged a walkout Thursday in protest of new overtime pay policies and slashed wages during COVID that haven’t been reversed, among other beefs with the paper’s owner, Alden Global Capital. The paper has 54 union workers and a handful of editors as circulation has fallen to less than 60,000. Hedge fund owners not only don’t understand that but don’t care.”3 Daily News staffers haven’t received pay increases in six years.