We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Hedge Fund Says Rival Is Misusing Media Co. For Profit

Law360 (March 6, 2018, 10:59 PM EST) -- Solus Alternative Asset Management LP hit the parent company of Digital First Media Inc. and MediaNews Group Inc. with a books and records suit in Delaware’s Chancery Court on Monday, accusing majority shareholder and much-maligned “vulture fund” Alden Global Capital LLC of secretively reshaping the newspaper conglomerate for its sole benefit.

Solus, a New York City-based hedge fund, is MNG Enterprises Inc.’s largest minority shareholder with an ownership stake of roughly 24 percent. In Monday’s complaint, Solus says rival hedge fund Alden is using its controlling...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.