Struggling in the suburbs

Few suburban newspapers have existed as long as the Daily Herald, founded as the Cook County Herald just seven years after the end of the Civil War.

But now, the news organization that prides itself as “Suburban Chicago’s Information Source,” is facing a major transition. On Monday, Alden Global Capital, the private equity firm which owns Tribune Publishing and is the second-largest newspaper owner in the United States, officially took ownership after acquiring the state’s third-largest newspaper for a reported $24 million from Paddock Publications.

The next steps will likely follow the same trail that Alden has blazed many times before: significantly cut costs, particularly journalists, and reduce the publication’s ability to provide in-depth local coverage at scale. According to Crain’s Chicago Business, the Tribune sent a memo to Paddock, only committing to retaining staff at their current salaries and benefits through the end of 2026.

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