In a significant demonstration of unity, over 200 journalists, photographers, and other staff members from the Chicago Tribune and several other national newsrooms initiated a 24-hour strike on Thursday. The protest aims to express discontent over prolonged contract negotiations and to advocate for equitable compensation.

Background and Catalysts for the Strike

This strike marks the latest in a series of labor actions within the U.S. news industry, particularly involving employees of Alden Global Capital. This New York-based hedge fund has faced criticism for its aggressive acquisition of newspapers nationwide, coupled with extensive budget cuts and workforce reductions.

The striking workers, represented by the NewsGuild-CWA, are emphasizing their demand for fair wages and a plea to preserve their 401(k) match benefits. The dispute has been ongoing for up to five years, with the union expressing frustration over what they perceive as “slow-walked” negotiations.

Impact of Alden Global Capital’s Influence

The NewsGuild-CWA contends that Alden Global Capital’s cost-cutting measures have significantly impacted newsrooms, exemplified by a reduction in Chicago Tribune’s staff from 111 to 76 individuals since June 2021. This downsizing, as reported by the union, has undermined the ability of journalists to deliver quality public information and fulfill their crucial role of holding those in power accountable.

Jon Schleuss, the president of the union, strongly criticized Alden Global Capital during a news briefing, characterizing the hedge fund as driven by corporate greed and accusing it of systematically dismantling newsrooms across America.

Alden Global Capital’s Impact on Tribune Publishing

The strike is described as the most extensive coordinated action taken by journalists against Alden Global Capital since the hedge fund’s acquisition of Tribune Publishing in 2021. The deal burdened Tribune Publishing with a substantial $278 million debt, further intensifying the discontent among the newsroom staff.

Challenges Faced by the Media Industry

The media industry is currently navigating a challenging landscape, characterized by ownership by billionaires and a surge in job layoffs. Notably, Time magazine and Conde Nast recently announced significant job cuts. The Los Angeles Times, one of the oldest newspapers, also disclosed plans to lay off more than 20% of its newsroom staff.

In 2023, The Washington Post, owned by Amazon founder Jeff Bezos, witnessed over 200 workers accepting buyouts. According to Challenger, Gray and Christmas, an employment firm, the news industry lost an estimated 2,681 jobs by the end of November 2023—surpassing the total job losses in both 2022 and 2021.

Nationwide Impact of the Strike

Beyond the Chicago Tribune and its sister newspapers, the strike involves employees from various news outlets, including the Orlando Sentinel, The Morning Call (Allentown, Pennsylvania), The Virginian-Pilot, the Daily Press (Virginia), the Virginia Gazette, and the Tidewater Review.

Media Industry Faces Unprecedented Job Losses and Labor Strife

In a landscape dominated by billionaire ownership and financial pressures, media outlets are grappling with significant job cuts and labor unrest. The 24-hour strike by Chicago Tribune and affiliated newsroom staff is a manifestation of broader challenges faced by journalists and media workers across the nation. The overarching question remains: Can the media industry strike a balance between financial sustainability and preserving the integrity of journalism?