2/28/2023 0 Comments Heath freemanIn July, the Poynter Institute reported the buyouts created at least a 10 percent reduction in Tribune’s newsroom workforce. Those with less than three years of continuous service would only get eight weeks of pay, according to the Sun Sentinel. The package included 12 weeks of pay for eligible employees with three or more years of continuous service, plus an additional week of pay for every year with the company. Tribune Publishing’s new owners also offered buyouts to newsroom staffers, including at the Sun Sentinel. In May, Alden acquired Tribune Publishing, parent company of the Chicago Tribune and the Sun Sentinel, for $633 million.Īccording to a filing with the Securities and Exchange Commission, Alden leveraged Tribune Publishing with two loans totaling $278 million, and replaced company CEO Terry Jimenez with Freeman. David Ivler is president of Miami-based drone manufacturer DJI Corp.įreeman is also part of an investment group that purchased the East Hampton Point luxury resort earlier this year for an undisclosed amount of less than $20 million.įreeman’s nickname as the “hedge fund vampire’ stems from Alden’s aggressive business strategy of buying up newspaper companies and then laying off employees and making other deep budget cuts that critics claim erodes local media outlets, according to media reports. The sellers of the 9,700-square-foot, six-bedroom, six-bathroom house at 3503 Main Lodge Drive in Miami are David J. Freeman financed the purchase with a $12.4 million loan from Wells Fargo Bank. “Hedge fund vampire” Heath Freeman is biting into Miami’s luxury home market.įreeman, managing director of New York-based Alden Global Capital, picked up a waterfront mansion in Camp Biscayne, a gated Coconut Grove community, for $19 million, records show. Heath Freeman, managing director of Alden Global Capital, and the house at 3503 Lodge Drive in Coconut Grove, Miami (Getty, Compass / Brown Harris Stevens)
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