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Photo: Scott Olson/Getty Images

Shareholders for Tribune Publishing voted to approve a roughly $630 million takeover of its newspaper company by Alden Global Capital, a hedge fund known for cutting journalists at local papers to maximize profits.

Why it matters: A takeover almost certainly means job cuts at many of America’s most storied local papers, including The Chicago Tribune and The New York Daily News.

Between the lines: Journalists have been pleading with their communities to find a buyer to save the papers.

  • A last-minute bid from a hotel magnate almost derailed the Alden deal, but ultimately fell apart when the suitor couldn’t pull together enough cash to compete with Alden.
  • Unions representing journalists at many of Tribune's newspapers issued a statement on Friday expressing frustration that the shareholders had "voted to put profit and greed over local news in our country."

The big picture: Local newspapers have struggled to find their footing in the internet era, leading to dramatic consolidation. Hedge firms and private equity companies are increasingly consolidating local titles to cut costs for profit.

Go deeper

Thousands without power as "hazardous" winter storm lashes East Coast

Satellite imagery of the Northeastern U.S. taken by NOAA on Jan. 17. Photo: NOAA

A major winter storm was lashing much of the East Coast on Sunday, causing widespread power outages and disrupting travel over the holiday weekend.

The latest: The Weather Prediction Center said in a storm summary Monday that winter storm warnings are still in effect for portions of the Central Appalachians, Ohio Valley, interior Mid-Atlantic, and Northeast, while portions of the Central Appalachians and coastal New England are under high wind warnings.

Colleyville Rabbi credits survival to active-shooter training

Rabbi Charlie Cytron-Walker, one of the people taken hostage in a synagogue outside Fort Worth on Saturday, said in an interview with CBS Monday that he initially took in the man because he thought he needed shelter.

The big picture: Cytron-Walker said he spoke to the hostage taker, identified by the FBI as 44-year-old British national Malik Faisal Akram, for several minutes and made him tea before Akram took the rabbi and three other people hostage during Shabbat services for around 11 hours in Colleyville, Texas.

Book bans are back in style

Illustration: Aïda Amer/Axios

School districts from Pennsylvania to Wyoming are bowing to pressure from some conservative groups to review — then purge from public school libraries — books about LGBTQ issues and people of color.

Why it matters: A pivotal midterm election year, COVID frustrations and a backlash against efforts to call out systemic racism — driven disproportionately by white, suburban and rural parents — have made public schools ground zero in the culture wars.