Denver Post reporters protest outside printing plant saying their ‘Vulture Fund’ owner needs to go
May 09, 2018
Chronicle news & opinion
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(NATIONAL) – If you’d care to see a graphic illustration of the pathetic state of the “news business” these days, just take a gander at what used to be one the America’s premier newspaper operations – The Denver Post, Colorado’s biggest newspaper.
On Tuesday, Post employees rallied outside their printing plant and called on the Post’s hedge-fund owner (sometimes referred to as a Vulture Fund) to sell the newspaper. They chanted, “What do we want? New owners! When do we want it? Now. Hey-hey, Ho-ho, Alden Global’s got to go.”
Alden Global is a New York City based private equity firm that controls Digital First Media, which in turn owns The Post.
A report by the Colorado Independent said Alden Global/Digital First Media, “Has cut deeply into the paper in recent years, most recently with a directive for management to lay off 30 newsroom employees in March, despite reports of high company profit margins. The paper now has around 70 reporters, down from around 300 in its heyday.”
The story says the employees marched from “the front doors of the paper’s Adams County printing plant, where the newsroom relocated earlier this year from its iconic building in downtown Denver as another cost-cutting measure.”
And it’s not just reporters whose ranks have suffered. The Independent quoted Frank Donato, who’s worked as a pressman at the printing facility since 1993 as saying, “Our numbers have been decimated over the years. Call, write, get the politicians involved. The pressure needs to be put on Alden [Global] Capital if they’re not going to bring the paper around, to sell it to someone who will.”
Read the Independent’s full story here .
And then be thankful you didn’t choose journalism as a career.
Oh. One more thing. Here you’ll find a Denver Post newsroom statement about the resignation of Editorial Page Editor Chuck Plunkett. It’s potent stuff. And very sad.