Hedge Fund News From HedgeCo.Net


Tampa’s Creative Loafing chain taken over by hedge fund Atalaya

St Petersberg Times – A New York hedge fund wrested control of the Creative Loafing newspaper chain Tuesday, promising to keep the weekly tabloids running in Tampa, Sarasota, Atlanta, Chicago, Charlotte, N.C., and Washington, D.C.

In a bankruptcy auction in Tampa, Atalaya Capital Management’s $5 million bid blew away the field. Creative Loafing’s longtime owners, the Eason family, opened the bidding by offering $2.32 million, but didn’t counter when Atalaya upped the ante.

Ben Eason, effectively removed as chief executive of the chain Tuesday, vowed to start afresh this week with a new online publication based in Tampa. Eason had run family publications for close to 20 years.

Read Complete Article

Related Posts Plugin for WordPress, Blogger...
This entry was posted in Syndicated and tagged , , , . Bookmark the permalink.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>