Alden Hedge Fund Attempted Takeover of Lee Enterprises Heats Up

From Poynter media business analyst Rick Edmonds:

After a holiday hiatus, hedge fund Alden Global Capital’s attempt at a hostile takeover of Lee Enterprises is heating up again. Recent developments:

  • The issue of whether an Alden affiliate followed the procedures in Lee bylaws for nominating a slate of directors goes to trial in Delaware Chancery Court on Feb. 7. Lee rejected the nominations as invalid. Unless the court sides with Alden, its effort to gain leverage on Lee’s board appears stymied for now.