In its Feb. 3 investor presentation, Lee didn't mention the hedge fund's reputation for dismantling entire newsrooms but
"Alden is viewed skeptically by newsrooms, journalists and newspaper staffers across the industry, and Lee's employees are concerned about their futures."Former and current staffers of Lee-owned papers suggested to Axios that Lee is using Alden's track record of buyouts and cuts to try to dissuade investors from approving a hostile takeover, even though Lee itself has cut from its newsrooms in recent years.
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