Alden Global Capital subsidiary purchases ‘The Santa Rosa Press Democrat,’ additional newspapers

Alden Global Capital, the entity that acquired Tribune Publishing for $633 million in 2021, has once again made a move in the mergers and acquisitions space. This time, their MediaNews arm has completed the purchase of Sonoma Media Investments (CMI), which is the parent company of several California publications, including the prominent The Santa Rosa Press Democrat, Sonoma Magazine, and five other North Bay titles. While the financial terms of this transaction have not been publicly disclosed, CMI leadership has highlighted the economic challenges faced by media companies, a stark contrast from when these titles were acquired back in 2012.

Darius Anderson, managing member of CMI, along with former CEO Steve Falk, pointed out the evolving landscape for media organizations, especially at the local level. They expressed concerns about the ability of a small group of local investors to ensure the long-term viability of these publications, given the current economic climate. Alden Global Capital, which currently owns 68 daily newspapers including The Chicago Tribune and New York Daily News, as well as over 300 weekly publications, now adds these California titles to its growing media portfolio.

MediaNews, headquartered in Denver, already operates well-known California papers like the San Jose Mercury News and the San Diego Union-Tribune. Frank Pine, executive editor of MediaNews Group, emphasized their enthusiasm in bringing a publication of The Press Democrat’s caliber into their media fold. Recognizing the significance of local news and information in the communities they serve, MediaNews Group is proud to expand its presence in Northern California through this latest acquisition.

Established in 1897, The Press Democrat has a rich history, including a period of ownership by The New York Times Company and a Pulitzer Prize win for local news coverage in 2018. This acquisition marks another strategic move by Alden Global Capital to expand its media reach and reinforce its presence in the publishing industry. The addition of The Press Democrat and other CMI titles aligns with their commitment to providing quality journalism to diverse audiences across various regions.