Acquiring Company
Alden Global Capital
Acquired Company
Daily Herald
New YorkIllinoisDescription
Alden Global Capital has acquired the Daily Herald for $24 million. This acquisition follows a competitive bid process, with Alden offering a better price to Paddock Publications. Layoffs have begun shortly after the acquisition, highlighting Alden's cost-cutting reputation. The Daily Herald, long held by the Paddock family, now transitions under Alden's management.
M&A Insights
Based on deal dataFrequently asked
Who acquired Daily Herald?
Daily Herald was acquired by Alden Global Capital, based in New York. The deal was reported on August 10, 2026. Alden Global Capital is a private equity firm known for investing in media properties. They have garnered criticism for their management practices and cost-cutting strategies in the newspaper industry. Alden Global Capital is privately held.
When did Alden Global Capital acquire Daily Herald?
Alden Global Capital's acquisition of Daily Herald was reported on August 10, 2026. Alden Global Capital has acquired the Daily Herald for $24 million. This acquisition follows a competitive bid process, with Alden offering a better price to Paddock Publications. Fundz records the date the transaction was first publicly reported, sourced from filings and company announcements.
What does Daily Herald do?
Daily Herald is a prominent news outlet based in Arlington Heights, Illinois. It was owned by the Paddock family for over a century before being purchased through an Employee Stock Ownership Plan in 2018. It is privately held, and is based in Illinois.