Hedge fund Alden’s bid to buy Chicago Tribune, other papers approved by shareholders

Tribune Publishing shareholders voted Friday to approve hedge fund Alden Global Capital’s $633 million purchase of the Chicago-based newspaper chain.

The deal, which is expected to close by June 30, will take Tribune Publishing private and add the Chicago Tribune and other major dailies to the Alden portfolio, making the New York-based hedge fund the second-largest newspaper owner in the U.S. behind Gannett.