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Hedge fund guts newspapers as it profits from their land

Feb 12, 2019 - The Washington Post
Board and Executive Moves-Mergers and Acquisitions

Hedge fund now looks toward Gannett - and its valuable real estate

When the building housing the downtown Memphis Commercial Appeal newspaper sold last April, the name of the buyer - Twenty Lake Holdings LLC - seemed of little consequence. The paper would be moving from its longtime home amid declining circulation and a shrinking staff under its owner, Gannett. The old newsroom was little more than an afterthought.

But Twenty Lake Holdings is not just another commercial real estate ...