It had always been called the Contra Costa Times, even through years of mergers with other local papers in the 2000s under its owner, MNG Enterprises (known variably as MediaNews Group or Digital First Media). Over the last 4 years, insiders at Tribune Publishing have traded over $117,929,877 . Tribune Publishing executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens. As the industrys recent dire circumstances focused minds on the business of news, including those of lawmakers, Freeman broke with Smiths strategy of avoiding the spotlight, and gave his first ever interview, to the Washington Post, in which he seemed to argue he was attempting to save newspapers by cutting them. They sat next to another couple on a set decorated with shiny curtains and long beams dotted with iridescent light bulbs. Ruff serves on the executive committee of DowntownDallas Inc. and on the citys TIF board. [1] Early life [ edit] Smith was born in 1942. Caleb asked. Its one that bucks the trends, expanding in bad times and contracting in good times. This investment philosophy helps explain why Alden also owns a $143 million position in Gannett, smaller stakesin A.H. Belo, McClatchy, Media General and Journal Communications. Tribune Publishing Company operates in eight markets with Chicago Tribune, New York Daily News, The Baltimore Sun, Orlando Sentinel Sun Sentinel, Daily Press and The Virginian-Pilot, The Morning Call of Lehigh Valley, Pennsylvania, and the Hartford Courant titles; and BestReviews engages in business of testing, researching, and reviewing consumer products. Over the last 5 years, insiders at Tribune Publishing have traded over $117,929,877 worth of Tribune Publishing stock and bought 1,611,761 units worth $19,673,649 In the late 1960s, the couple used their quick wits to win furniture and $20,000 in cash on the television game show Dream House. Stockholm (HedgeNordic) Swedish asset manager Coeli Asset Management has announced the liquidation of Coeli Multi Asset after learning of a major investors intention to redeem all investments in Bill Ackman called for President Joe Biden to consider sending US troops to defend Ukraine in a post on Twitter Monday. . But Alden has focused its attention on Tribune Publishing Company, which owns, among others, the, On that same day, the NewsGuildwhich represents the Chicago Tribune Guild and thirteen Alden-owned newsroomstestified before the US House Committee on Financial Services that, according to its. He continued to work for his father through high school, then got a job at a restaurant washing dishes and peeling calamari. On December 3, 2016, the morning after the Ghost Ship warehouse in Oakland caught fire, killing thirty-six people, the East Bay Timess new executive editor, Neil Chase, instructed his staff to throw their resources behind the story. As a child, Smith says he once asked his father why he worked: He said, Its a game and I love it. Pens and notebooks disappear from newsrooms. The Press offered tough competition to the Village Voice, with free distribution, while the Voice was a paid publication. I firmly believe that Randall Smith and Heath Freeman could weather this timeframe if they wanted to, says Patricia Doxsey, the president of the Kingston NewsGuild and a government reporter at the Alden-owned. They have a son, Caleb Smith, who was profiled in 2011 in the Dallas-based D Magazine, and a daughter. Meet the Hedge Fund Boss Who Just Bought Tribune's Newspapers photography courtesy of Spire Realty Group. It was founded in 2007 by Randall D. Smith. What I can expect in the next few months and for the rest of the year, Chicago Tribune Guild president and courts reporter for the paper, Megan Crepeau, says, is a strong newsroom, a united front, because now we know exactly the kind of dirty tricks and exactly the kind of ways that they want to gut us., NEW AT CJR: Kayleigh McEnany, media critic, TOP IMAGE: Journalist George Kelly protesting Alden Global Capital outside the hedge-fund's headquarters in New York, in May 2018. Three years ago, as his brother, , Smith celebrated his 75th birthday on the tiny Caribbean island of Canouan, which. The Smith-affiliated entity paid $7.875 million for the house at 150 El Vedado Road in January 2021, property records show. The U.S. Chamber of Commercedeclaredthe act would cost 6.2 million jobs. Three years ago, as his brother recalled, Smith celebrated his 75th birthday on the tiny Caribbean island of Canouan, which Bloomberg cites as the place where billionaires go to escape millionaires. He has accumulated a row of mansions in Palm Beach, Florida, Reynolds reported, and houses in the Hamptons. In meetings, he likes to knock back cans of diet orange Sunkist and fiddle with a stress ball. Randall D. Smith - Biography Hedge fund titan Clifford Asness joined traders in slamming the London Metal Exchange after the platform cancelled trades a move that may have helped stem losses at a fund that was short the metal New York hedge-fund firm Aravt Global LLC is shutting down after sustaining significant losses recently, a sign of the severe pain the selloff in growth stocks is inflicting. Over the last 5 years, insiders at Tribune Publishing have traded over $117,929,877 worth of Tribune Publishing stock and bought 1,611,761 units worth $19,673,649 Randall Smith's net worth Randall took a draft deferment, earned an MBA, and landed a job at Bear Stearns, where he would come to be an early pioneer in distressed asset investingthe Wall Street euphemism for pulling the last of the money from failing companies. Tribunewhich analysts and union officials believe is already acting under Aldens influence, though Freeman denies this in his letterhad tried to implement even heavier cuts. We recommend you to check the complete list of Famous People born on . Darrell Hofheinz is aUSA TODAY Network of Florida journalist who writes about Palm Beach real estate in his weekly Beyond the Hedges column. His net worth has been growing significantly in 2022-2023. Randall Smith serves as Director of the Company. Its very clear that Alden has faith in the future of the business and so do I. Despite earning higher profits than is typical in the industry, the NewsGuild, that between 2012 and 2019, Alden cut seventy-one percent of jobs in the hedge funds Guild-represented newsrooms. . The union launched an ultimately failed campaign to attempt to unseat Aldens board members. His father replied, Whoever dies with the most money.. Im hoping to be the Trammell Crow of the 21st century, Smith says. One newsroom was missing hot water. But the real estate investor wants to do more than just live here; he wants to be a driving force in shaping the citys future. Over the past several years he has invested heavily in newspapers and media companies through his. Theyre all at least 30 years old. Smith says his company is nontraditional, too. Randy Smith founded Alden Global Capital in New York City as a privately held hedge fund. After working as a securities analyst for three years, he took some time off to think about whether he really wanted to work on Wall Street. Another house linked to Randy Smith of Alden Global Capital sells in Palm Beach, Another Smith-linked sale: Seaside estate sells for $39 million, nearly $14 million more than in June. The company also provides various digital marketing services, which include the development of mobile websites, search engine marketing and optimization, social media account management, and content marketing for its customers' web presence for small to medium size businesses. From $30 million to $86 million: What were the biggest real estate sales of the summer in Palm Beach? According to its 990s, Knight ended up making $185,000 over five years on its initial $13.4 million investment. But Singleton, who built his company over decades with acquisitions, said his own view is that further consolidation will play a big role in the industrys recovery and way forward. Freeman, who is the president of Alden, runs its daily operations. Trump supporter and Labor Secretary nominee Andy Puzderwrote in the Wall Street Journalthat The senator is trying to set private equity up as a boogeyman to fear. Alden also got two seats on the Tribune Publishing Company board and increased its ownership stake to thirty-two percent. But do it fastthe deadline is Nov. 25. Bankruptcy always attracts their attention, says Julie Reynolds, a former reporter at the Monterey Herald and intrepid chronicler of Alden. , Alden had been responsible for 23,584 American job losses, through PayLess, Freds, and its newspaper empire. The company was formerly known as tronc, Inc. and changed its name to Tribune Publishing Company in October 2018. The most recent stock trade was executed by Michael Norman Lavey on 2 April 2021, trading 1,875 units of TPCO stock currently worth $32,363. THE MAN BEHIND THE CURTAIN, Part 1 - Save Local News The reader in Contra Costa, Calif., Singletontold me, doesnt really care where the paper is printed, who delivers it at 5 a.m. or whether the ad production is done in Contra Costa or India.. Randall Duncan "Randy" Smith is an American hedge fund manager, and the founder and chief of investments of Alden Global Capital. By the early nineties, though he had made partner at Bear Stearns, he left to dedicate himself fully to his own company. Hedge fund manager Randall Smith, whose Alden Global Capital has gutted newspapers around the country, had $252.6 million in his. Smith & Company, in 1985. Smith favored a long-term-ownership approach; his father, being a lifelong trader, wanted to buy, improve, sell. By the time Caleb was 8 years old, he was making trades on a Quotron computer. We share the belief that Americans need and deserve robust local journalism that operates with editorial independence, he wrote. However, as an investment banker with 45 years experience and a pioneer of so-called vulture investing,Smith hasleft a few tracks. It generates value for investors while creating jobs and wealth for a broad spectrum of individuals and entities.. With The Spire, we now have an opportunity to provide that neighborhood.. Tribune Publishing Company, together with subsidiaries, publishes newspapers worldwide. Journalists at the Chicago Tribune have resorted to begging for new owners, the Times reported. In 1998, he acquired the Bryan Tower, a 40-story downtown office building in Dallas, Texas, and his son Caleb Smith oversaw the renovation for his father's company Spire Realty, which he now runs. Temporarily, it cannot increase its stake in Tribune. Its real-estate transactions, in particular, are difficult to trace. He is a founding member of Alden Global Capital LLC, a private investment firm based in New York. Randall Smith is 77, he's been the Director of Tribune Publishing since 2020. The screenshots below show where the Smiths contributions ended up, as listed on OpenSecrets.org: These were large contributions for the Smiths, and this was the first time Randall Smith had given to any campaign or party since 2017, according to FEC records. Christopher Minnetian, president of Randall Smiths family investment firm, Smith Management LLC, gave $10,800 to the Trump campaign for the 2016 election. Reynolds has spent years trying to find details, and has reported on Aldens financial entanglements with, debt in Greece, fraud in Mexico, pollution in Russia, and corruption in Brazil, Amid the coronavirus pandemic, the company has laid off and furloughed many dozens of newspaper workers. A boat containing 14 bodies appeared in the Caribbean. But Aldens track record whether it takes over newspapers, shoe stores or pharmacies proves otherwise. Smith is one of the few who is localand thats an advantage, he says. Another house linked to Randy Smith of Alden Global Capital sells in Many reporters have been furlougheda difficult outcome that was itself a hard-won concession by the union. Were excited. By the end of that week, a team of more than a dozen reporters had written investigations and narrative reconstructions of the night of Oaklands deadliest fire and the lives of its victims. Newsrooms need accessible standards about their use of AI to maintain trust with news consumers and ensure accountability of the press. His younger brother Russ Smith founded the Baltimore City Paper and the Washington City Paper, which he sold for $4 million, and in 1989 founded the New York Press. The Smith family, which includes brothers David, Robert, Frederick, J. Duncan and a flurry of family trusts, is worth a combined $1.2 billion, Forbes estimates, based on the family members'. Journalists of South Bend Tribune unionize, adding momentum to organizing surge, The Finance Curse: How Global Finance is Making Us All Poorer, a convenient way to circumvent contribution limits, Were looking for an administrative secretary, New York Times staffers protest shareholders meeting, Washington Post workers walk out at lunch, Hundreds of Insider workers walk out in protest of proposed layoffs, NewsGuild of New York responds to the shutdown of BuzzFeed News, California guilds submit letter of support for the California Journalism Preservation Act. The host, in a suit and tie, quizzed them. Randall Smith's income source is mostly from being a successful . ), When the rivalrywas at its peak in 1999, Voice writer Cynthia Cotts produced an acid profile of the brothers,headlined Vulture Press.She concluded byquoting an acquaintance saying, Randy is so rich hes the kind of guy who divests himself every couple of years, so he doesnt make the lists of the worlds richest people.. So, flattering as Aldens courtship of the industry has been to date and likely as it is to continue,newspapers could get dropped in a heartbeat, as did Emmis, if fundamentals take another dive. Along with acquiring office buildings, including 500 E. John Carpenter Freeway in Irving, Smith began quietly buying parking lots along San Jack as an amenity for tenants at Bryan Tower. Randall D. Smith - Wikiwand Youll be in business all your life, they told him. . The duo aims to create a project that will transform downtown Dallas, and they refuse to compromise their vision. We're goingto move in for the season and see what we're going to do, she said. In 2010, Alden Global Capital, a New York-based hedge fund, acquired enough stake of MediaNews Group to give the hedge fund a significant say in the papers futures. It was a bankruptcy trading firm described as devoted exclusively to the tired and the poor of the corporate community, by Hilary Rosenberg in her 1992 book The, Vulture Investors: The Winners and Losers of the Great American Bankruptcy Feeding Frenzy. D1 Capital Partners has lost 12% in its public investments for the month of December through Monday as fears about the fast-spreading Omicron variant have fueled big stock swings in recent sessions. The deal expires on June 30. At the time, he told the staff, Dont hold back on overtime and stuff like that. Jen Psaki continues her strong TV start with comments about Tucker Carlson and Fox News. Look at everything that has changed since then: the Internet, electrical systems, HVAC systemsnot one of those office buildings was built for todays efficiencies., Most Dallas office towers are owned by outside investors. On that same day, the NewsGuildwhich represents the Chicago Tribune Guild and thirteen Alden-owned newsroomstestified before the US House Committee on Financial Services that, according to its calculations, Alden had been responsible for 23,584 American job losses, through PayLess, Freds, and its newspaper empire. He insisted that inaccurate media reports about the company abound, their ownership is a cause for celebration, and Google and Facebook are to blame for the death of local news. Could it be that Smith, like Puzder, fears that legislators efforts to make private equity more transparent are actually a conspiracy to punish the successful?, Puzder maintainsthat private equitys goal is always growth and value creation, not bankruptcy.. Dana Bash will replace John King as the anchor of Inside Politics. King will report on voters in battleground states heading into the 2024 election. We will update Randall Smith's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible. It was a bankruptcy trading firm described as devoted exclusively to the tired and the poor of the corporate community, by Hilary Rosenberg in her 1992 book The Vulture Investors: The Winners and Losers of the Great American Bankruptcy Feeding Frenzy. Smiths success also coincided with the beginning of the end for many American newspapers. Over the last 5 years, insiders at Tribune Publishing have traded over $117,929,877 worth of Tribune Publishing stock and bought 1,611,761 units worth $19,673,649 Randall Smith - Wikipedia He also. A 1987 Time profile reportedthat he is a graduate of Cornell University with a Wharton MBA, who started his career with Bear Stearns in 1967. House linked to financier Randall Smith fetches $23M, a 190% - Yahoo Learn How rich is He in this year and how He spends money? He speaks in a gravelly voice. Alden Global Capital net worth Apr, 2023 Alden Global Capital is a hedge fund based in Manhattan, New York City. The whole family chipped in to help. But put me at a party thats not about business, and Ill be the guy in the corner chain-drinking and looking at my watch to see when I can leave., Smith was befriended by John Sughrue, who had come to Dallas from New York and whos now one of the developers behind Museum Tower. In 2007, Smith founded Alden Global Capital, and is its chief of investments. Its all about the spreadsheets and the numbers. Paul Huntsman, who bought a newspaper, the Salt Lake Tribune, back from Alden, says the attitude is common among hedge funds. Turns out, Sughrue was right. As part of the deal, Alden agreed to a standstill, which Tribune says is typical for large shareholders. The Post's controlling owner, "vulture capitalist" Randall Smith, has become journalism's No. He says hes determined that Spireboth the development and the companywill be a lasting legacy that his daughters will take over some day. In the just-recorded sale of the house, real estate attorney Maura Ziska signed the deed as vice present and secretary of the seller, 286 Orange Grove LLC. The same day, his wife Barbara gave exactly the same amount. It aimed last year to take private Emmis Communications,a radio company, but the deal collapsed when Alden pulled out, leading to suits and countersuits. He earned a bachelor's degree from Cornell University in 1965, followed by an MBA from the Wharton School of the University of Pennsylvania in 1967. A New Jersey native who has traveledand livedall over the world, he came here in 1998 to oversee renovation of Bryan Tower, a 40-story downtown office building his father had just acquired. (Theyve since acquired a controlling stake.) Now that its bought up a third of Tribune Publishing, Alden has finagled two board seats and within weeks, the company implemented mass buyouts. But Alden has focused its attention on Tribune Publishing Company, which owns, among others, the Chicago Tribune, the New York Daily News, and the Baltimore Sun. Alden Global Capital is a hedge fund based in Manhattan, New York City. Mr. Randall Smiths income source is mostly from being a successful . But when you do, you wont want to leave. . ProPublica / Justin Elliott, Patricia Callahan, and James Bandler / Jun 24 "Hedge fund manager Randall Smith, whose Alden Global Capital has gutted newspapers around the country, had $252.6 million in his." . Singleton remains there, as a new board of directors searches for a new CEO; when they find one, Singleton will then become Executive Chairman advising the company on strategy. Their coverage won the 2017 Pulitzer Prize for Breaking News Reporting. Photo: Karen K. Ho. Caleb asked. He also composed music and sang and played guitar in a rock band and a blues band. Less than two weeks later, Alden Global Capital co-founder Randall Smith gave $50,000 to Donald Trump's "Trump Victory" fund. They sat next to another couple on a set decorated with shiny curtains and long beams dotted with iridescent light bulbs. Smith was accused of getting in the way of more responsible deal-makers seeking a rescue, and ensuring it landed in bankruptcy courtall in a search for a few extra cents per share. It presented no evidence that masks caused serious health problems. Last August, he gave over $55,000 to Donald Trumps presidential campaign and over $44,000 to the Republican National Committee; in 2012, he gave $72,800 to Mitt Romneys presidential campaign. Alden was no different than a lot of other large financial services, he says. Hedge fund founder Randall Smith and his wife gave $100,000 to the Alden also owns the largest share of Freedom Communications, whose Orange County Register and other newspapers are up for sale (with MediaNews a potential buyer). Pohrer declined to comment about the sale or his clients, who couldnt be reached. The company also provides various digital marketing services, which include the development of mobile websites, search engine marketing and optimization, social media account management, and content marketing for its customers' web presence for small to medium size businesses. He was given responsibility for Dallas in mid-1999. Smith ultimately assembled six contiguous blocks between Ross Avenue and Federal Street. Hedge Fund and Insider Trading News: Cathie Wood, Paul Tudor Jones, Steve Cohen, Elliot Management, Alden Global Capital, Bireme Capital, Tesla, Inc. (TSLA), Thor Industries, Inc. (THO), and More, Top 10 Stock Picks of Randall Smith's Alden Global, Hedge Fund and Insider Trading News: Cathie Wood, Jim Simons, Jamie Dinan, Alden Global Capital, Odey Asset Management, Atlant Fonder, Nickel Digital Asset Management, Burford Capital, Global Water Resources Inc (GWRS), Twilio Inc (TWLO), and More, Hedge Fund and Insider Trading News: Clifford Asness, Farallon Capital Management, BlueCrest Capital Management, Marshall Wace LLP, Fir Tree Capital Management, Alden Global Capital, Aravt Global LLC, Reservoir Media Inc (RSVR), DoorDash, Inc. (DASH), and More, Hedge Fund and Insider Trading News: Ray Dalio, Bill Ackman, Alden Global Capital, Oaktree Capital Management, Aravt Global LLC, Veritex Holdings Inc (VBTX), and More, Hedge Fund and Insider Trading News: Steve Tananbaum, Bill Ackman, Starboard Value LP, Light Sky Macro LP, Coeli Asset Management, Strategic Education Inc (STRA), and More, Hedge Fund and Insider Trading News: Bill Ackman, Warren Buffett, Alden Global Capital, Hudson Bay Capital Management, Dillard's, Inc. (DDS), First Majestic Silver Corp. (AG), and More, Hedge Fund and Insider Trading News: Edward Eisler, Ray Dalio, Whitney Tilson, Steve Cohen, James River Capital, Alden Global Capital, IAA Inc (IAA), and More, Hedge Fund and Insider Trading News: Gabe Plotkin, David Einhorn, Dan Loeb, Ray Dalio, Bill Ackman, Sachem Head Capital Management, Brummer & Partners, Alden Global Capital, Reservoir Media Inc (RSVR), Moderna Inc (MRNA), and More, Hedge Fund and Insider Trading News: George Soros, Melvin Capital Management, Brevan Howard Asset Management, Elliott Management, Point72 Asset Management, Tybourne Capital Management, Verizon Communications Inc. (VZ), and More, Hedge Fund and Insider Trading News: Nelson Peltz, Kyle Bass, Ray Dalio, Alden Global Capital, Heptagon Capital, Blackwells Capital, Oracle Corporation (ORCL), and More, Hedge Fund and Insider Trading News: Ray Dalio, VGI Partners, Alden Global Capital, Radcliffe Group, Spouting Rock Asset Management, Dimensional Fund Advisors, Thornburg Income Builder Opportunities Trust (TBLD), TG Therapeutics Inc (TGTX), and More, Hedge Fund and Insider Trading News: D1 Capital Partners, Two Sigma Advisors, Alden Global Capital, Bridgewater Associates, Brummer & Partners, Hyatt Hotels Corporation (H), Starwood Property Trust, Inc. (STWD), and More, Hedge Fund and Insider Trading News: D1 Capital Partners, Alden Global Capital, Universa Investments, Immersion Corporation (IMMR), Keysight Technologies Inc (KEYS), and More, Hedge Fund and Insider Trading News: Anthony Scaramucci, Elliott Management, Alden Global Capital, Amber Capital, Macellum Advisors, Quantology Capital Management, Stonex Group Inc (SNEX), ICON PLC (ICLR), and More, How to Best Use Insider Monkey to Increase Your Returns, 6 Things You Didn't Know About Hedge Funds. Tue, Apr 5, 2016 10:42AM. (Randall Smith started making these purchases in 2013, a year after he acquired the Digital First Media newspaper chain, spending $57 million on 16 mansions. Life for the Smiths was one of luxury, punctuated by summer trips to Luxembourg and the French Riviera. So what prompted the Smiths to shell out $100,000 to the president and his party in August? The returns rolled in. Smith spent about three months in India, China, and Japan, then went to Russia for another three months to study the markets. That is an if. Alden might choose not to consolidate and simply sit on investments it believes will appreciate. When they ask me why I work, Ill say, Because its a game. On average, Tribune Publishing executives and independent directors trade stock every 31 days with the average trade being worth of $6,589,782. Singleton has also been comfortable through the years partnering with Gannett and other companies, in one instance running several papers for Hearst, which also made a big investment in MediaNews. Then on Monday, we learned that Tribune CEOTim Knight is stepping downin a sign that the Chicago Tribune may be moving closer to the apocalypse, as Chicago media analyst Robert Feder put it. Spire Realty's Caleb Smith: The Next Trammell Crow? My wild guess: Watch for the MediaNews CEO search to end with Journal Register CEO John Paton (whose experience includes investment banking). Business records link his wife to Smith Management LLC, which public records haveidentified as Aldens parent company. The impetus behind the transition is not fully clear, but Smith invested in the real estate business in the years before. , and houses in the Hamptons. Alden also owns 1.8% of Gannett Co. and 5.9% of Lee Enterprises. Top 10 Stock Picks of Randall Smith's Alden Global Randall Smith Social Network The company operates in two segments, M and X. At Bryan Tower, Smith finally found his true calling: commercial real estate. Tribune Publishing Company, together with subsidiaries, publishes newspapers worldwide. They include the. Palm Beach house linked to Randy Smith of Alden Capital sells for $10M Vulture Capitalist Randall Smith's Hedgefund Alden Global - Indybay Even in the close-mouthed world of hedge fund investment, Randall Smith, the principal of Alden Global Capital, gives new meaning to the euphemism low profile.. Tribune Publishing executives and other stock owners filed with the SEC include. Randall Smith serves as Director of the Company. Journal Register and Media News can be merged perhaps with Freedom too, if the Alden guys can figure out a fair price to pay themselves. Get the Poynter newsletter that's right for you. Hes a major Republican donor. We have estimated Randall Smith's net worth, money, salary, income, and assets. To put it simply, the 2014 US Supreme Court ruling in McCutcheon v. FEC allows larger aggregate contributions to candidates as long as a certain cut of the money is diverted to the party. 1635 Shaw Ave. Clovis, CA 93611. And I love it. , 750 North St.Paul St. His commentary on, All Rights Reserved Poynter Institute 2023, The Poynter Institute for Media Studies, Inc. is a non-profit 501(c)3. There are no older and 9 younger executives at Tribune Publishing.
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