Alden Global Capital, a hedge fund known for cutting journalists at local papers to maximize profits, sent a letter to Tribune Publishing Company on Thursday asking to buy out the newspaper publisher in its entirety. The group currently owns 32% of the company.
Why it matters: Given Alden's history, a takeover is expected to result in a restructuring of the company that could result in more local news jobs being cut.
The gap in trust between Democrats and Republicans in mass media reached an all-time high during the Trump administration, according to an annual Gallup poll.
Why it matters: The divide represents one of the most profound elements of President Trump's legacy.
787,000 Americans filed for initial jobless claims last week, a decline of 19,000 from the previous week and 41,000 fewer unemployment claims than economists had projected, according to Labor Department data.
Why it matters: It's the lowest weekly figure this month, but the overall level of economic pain experienced across the U.S. during the holiday season remains astonishingly high. Over 19.5 million Americans are claiming benefits across all unemployment programs to close out the year.
Amazon announced Wednesday that it plans to acquire Wondery. The startup will be a part of Amazon‘s subscription music service, Amazon Music.
Why it matters: The move reaffirms Amazon’s growing ambitions to get into the podcasting space. Podcasts are a natural fit for the company, which already has a subscription music business, an audiobook business, and owns a sizable chunk of the smart speaker market in the U.S.
For the first time, the highly influential dietary guidelines from the federal government feature recommendations for babies and toddlers
Why it matters: "The dietary guidelines, which are updated every five years ... shape school lunch programs, mold state and local health-promotion efforts, and influence what food companies produce," the Wall Street Journal notes.
The European Union on Wednesday finalized an agreement in principle on a long-delayed investment deal with China, appearing to defy resistance from within the EU and a request for consultations about "common concerns" from the incoming Biden administration.
Why it matters: The deal will open up both markets to investment and commit Beijing to ending certain unfair trading practices, strengthening economic ties between the EU and its second-largest trading partner.
Treasury Secretary Steven Mnuchin announced Tuesday the second round of coronavirus relief stimulus payments were being sent to millions of Americans.
The big picture: As President Trump and others continue to press Senate Majority Leader Mitch McConnell (R-Ky.), who blocked Democrats' request to hold a vote on a House measure to boost the size of the checks to $2,000 per person, Mnuchin tweeted that the $600 payments "may begin to arrive in some accounts by direct deposit as early as tonight" and that paper checks would begin to be mailed Wednesday.
