Orlando Sentinel journalists and members of the community gathered at Lake Eola Park Saturday to demand that Tribune Publishing shareholders vote no on selling to Alden Global Capital.
Tribune owns important news outlets in Orlando and around the country including the Orlando Sentinel and the Sun Sentinel.
Private investment firm Alden Global Capital — a hedge fund based in Manhattan, New York — has cut staff at its Media News Group by 76%, according to an article by The Wall Street Journal.
“Alden’s approach to newspapers is to dramatically expand profit margins through cost-cutting, combining services, outsourcing and selling off real estate,” the article states.
As the future of newsrooms is at stake, Orlando Sentinel education reporter, Annie Martin, said she thinks these hedge fund companies care about making a profit but don’t necessarily care about serving the community.
“I think that’s really unfortunate. For people studying journalism today, I certainly think that there is a future in this career and I certainly think there are opportunities,” Martin said. “But, as newsrooms get smaller and smaller, those opportunities are dwindling. They’re fading.”
She said she would not discourage anybody who is passionate about journalism from pursuing that career and believes there are opportunities in today’s economy.
Orlando Sentinel columnist Scott Maxwell said he came to the newsroom over 20 years ago and had hundreds of people working there. He said today, there are 70 people working at the newspaper.
“The journalists of the Sentinel are a part of this community, they have kids, they have homes. They believe in covering small businesses, non-profits, and high school sports,” Maxwell said. “They provide consistent coverage of the issues that affect the lives of everyone who lives here.”
State Rep. Carlos Smith and Rep. Anna Eskamani both spoke at the Saturday rally.
Eskamani and Smith both serve in the Florida House of Representatives — Eskamani represents much of downtown Orlando and Winter Park in District 47, and Smith represents a large portion of east Orlando and UCF in District 49.
Eskamani expressed her appreciation and support for the Sentinel as much of her work has been covered by the newspaper.
“Without a free press, there is no democracy,” Eskamani said. “It also has to be stressed that every other media outlet relies on the Orlando Sentinel.”
Smith acknowledged and thanked the Sentinel’s work through the tragedy of the Pulse Nightclub shooting.
“The Orlando Sentinel helps tell the truth in the story of the Orlando community,” Smith said.
The Orlando Sentinel, along with other newsgathering establishments across the country, encourage those in support to sign their coalition to Save Local News petition.
