His mother, Kathryn, went on to earn a Ph.D. in political science. The deal expires on June 30. It publishes daily newspapers, weekly newspapers, and niche publications and direct mails; and operates local websites and mobile applications. Palm Beach house linked to Randy Smith of Alden Capital sells for $10M The PR push coincides with Alden seeking to acquire larger, more historically significant, and more influential papers. If you continue to use this site we will assume that you are happy with it. The East Bay Times had been so diminished, it barely knew its own name. He speaks in a gravelly voice. The union launched an ultimately failed campaign to attempt to unseat Aldens board members. I found a hint in the April 2010 issue of Aldens Monthly Update to clients, which found its way onto the Web. I once had to train a 40-year-old how to do it, Smith says. Its lotmeasures about two-tenths of an acre and lies several streets north of the Palm Beach Country Club. Turns out, Sughrue was right. Copyright 2023, D Magazine Partners, Inc. We use cookies to ensure that we give you the best experience on our website. He started his first investment firm at home while still working for Bear Stearns, with $20,000 he and his wife won in the late 1960s on Dream House, a television game show. Hes also a recluse. The Smiths donations, as is customary these days with large contributions, were made to Trump Victory, a joint fundraising committee that under new campaign finance laws providesa convenient way to circumvent contribution limits. Newsrooms need accessible standards about their use of AI to maintain trust with news consumers and ensure accountability of the press. Generali's No.3 investor Caltagirone withholds backing for 2022 accounts -sources, Musk says Tesla likely to launch full self-drive technology 'this year', Exclusive: JPMorgan employees gripe about Dimon's return-to-office edict, SpaceX rocket explosion illustrates Elon Musk's 'successful failure' formula, Cucinelli posts 33% rise in Q1 sales, confirms 2023 revenue growth forecast, Exclusive-Peter Thiel, Republican megadonor, won't fund candidates in 2024 - sources, Virginia Governor Youngkin 'humbled' by talk of possible presidential run, European Midday Briefing: Mood Brighter After -2-, Tim Cook unveils new Apple store in India, Morgan Stanley's dealmaking CEO Gorman signals more transactions to come. It has gained the largest share ofMediaNews, the second largest U.S. newspaper company by circulation. The Black Museum (1993) Collision (1996) Smith spent about three months in India, China, and Japan, then went to Russia for another three months to study the markets. sold in thepast two-and-a-half years during the real estate rush, Another house linked to Randy Smith of Alden Global Capital sells in Palm Beach, Seaside estate sells for $39 million, nearly $14 million more than in June, Tight supply, big demand and the consequences for Palm Beach real estate. In the late 1960s, the couple used their quick wits to win furniture and $20,000 in cash on the television game show Dream House. It was founded in 2007 by Randall D. Smith. It typically takes a new host a couple of dozen shows, at least, to settle in, but Psaki seems to be more than comfortable after only six. I didnt know anyone who went to UT or A&M, which put me at a huge disadvantage, Smith says. His wife is Kathryn Smith Barbara Stovall Smith. THE MAN BEHIND THE CURTAIN, Part 1 - Save Local News Its competition. I said, How do you know who wins? He told me it was whoever dies with the most money. We share the belief that Americans need and deserve robust local journalism that operates with editorial independence, he wrote. Founder of Alden Global Capital LLC and RD Smith & Co., Randall D. Smith is Chairman for Oyster Enterprises Acquisition Corp. and Chief of Investments at Alden Global Capital LLC. Randall Smith Bio, Returns, AUM, Net Worth With offices in New York City, Dallas, Houston, Dubai, London and Mumbai, Randall Smith's Alden Global Capital has grown to become a. Its also arguably the most secretive news chain owner in the country. The story of the East Bay Times is not unique. Many reporters. Another house linked to Randy Smith of Alden Global Capital sells in Over the last 5 years, insiders at Tribune Publishing have traded over $117,929,877 worth of Tribune Publishing stock and bought 1,611,761 units worth $19,673,649 By the time Caleb was 8 years old, he was making trades on a Quotron computer. Smiths net worth is not publicly available, but indications are that its vast. It appears sparsely staffed, with Wall Street veterans rather than media executives, and until very recently it nearly entirely shunned attention. Randall Smith (born March 8, 1960) is a Canadian electroacoustic music composer living in Toronto. Under the circumstances, one can only infer what Alden likes about the news industry and what next steps in its strategy may be. Theyre already getting a taste of the family business. Another house linked to Randy Smith of Alden Global Capital sells in Palm Beach, Another Smith-linked sale: Seaside estate sells for $39 million, nearly $14 million more than in June. 1635 Shaw Ave. Clovis, CA 93611. As the industrys recent dire circumstances focused minds on the business of news, including those of lawmakers, Freeman broke with Smiths strategy of avoiding the spotlight, and gave his first ever interview, to the Washington Post, in which he seemed to argue he was attempting to save newspapers by cutting them. Three years ago, as his brother, , Smith celebrated his 75th birthday on the tiny Caribbean island of Canouan, which. To put it simply, the 2014 US Supreme Court ruling in McCutcheon v. FEC allows larger aggregate contributions to candidates as long as a certain cut of the money is diverted to the party. Smith's net worth is not publicly available, but indications are that it's vast. Since they bought their first newspapers a decade ago, no one has been more. He returned home, finished up his degree in New York, then got a job as a bartender, with an eye toward opening his own restaurant. Sorry, no results has been found matching your query. Paton has transformed Journal Register to digital first, and that aligns with MediaNews likely direction. Alden was no different than a lot of other large financial services, he says. Under MediaNews Groups ownership in those years, the Bay Area News Group shrank from around 380 staffers to around 250, Chase says. As a child, Smith says he once asked his father why he worked: He said, Its a game and I love it. The screenshots below show where the Smiths contributions ended up, as listed on OpenSecrets.org: These were large contributions for the Smiths, and this was the first time Randall Smith had given to any campaign or party since 2017, according to FEC records. Last updated: 1 April 2023 at 11:00am EST. Prior to focusing on principal investing through Alden and Smith Management LLC, he established and ran RD Smith & Co. which was both a principal investor in distressed . In 2002, together with his second wife Barbara (a Houston native), and his brother Jeffrey Smith, they bought the historic 100-room 1924 Sam Houston Hotel, extensively remodelled it, and reopened it in 2005 as the Alden Hotel. There are no older and 9 younger executives at Tribune Publishing. As part of the deal, Alden agreed to a standstill, which Tribune. The most recent stock trade was executed by Michael Norman Lavey on 2 April 2021, trading 1,875 units of TPCO stock currently worth $32,363. Smith and his company, Spire Realty Group, are now firmly planted in Dallas. Since taking the helm of Spire, he has grown its portfolio to 3.5 million square feet of office space in Dallas, Austin, and Houston, plus 21 acres of urban land thats ripe for development. Pohrers listing described the layouts open kitchen and poolside loggia as perfect for entertaining.The saltwater pool has a southern exposure. The AP set off to learn their identities. After some debate, the elder Smith gave his son the reins in 2003 and the go-ahead to operate Spire as he saw fit. Russ Smith, a conservative libertarian, for 20 yearswrote a weekly column, The Mugger, which often ran to more than 10,000 words. Then on Monday, we learned that Tribune CEOTim Knight is stepping downin a sign that the Chicago Tribune may be moving closer to the apocalypse, as Chicago media analyst Robert Feder put it. He is a founding member of Alden Global Capital LLC, a private investment firm based in New York. Mr. Smith graduated from Cornell University and received an MBA from the Wharton School of the University of Pennsylvania. Theyre driven by the bottom line., : When Caleb asked his father why he worked, Smith told his son, Its a game and I love it. How would he know who won the game? He is a founding member of Alden Global Capital LLC, a private investment firm based in New York. Pohrer declined to comment about the sale or his clients, who couldnt be reached. Journalists of Springfield News-Leader Vote Unanimously: Union, Yes! published at least twenty articles and videos in the first two days after the fire. He insisted that inaccurate media reports about the company abound, their ownership is a cause for celebration, and Google and Facebook are to blame for the death of local news. This was then divvied up between the Trump campaign and the Republican National Committee, with a note on the Federal Election Commissions site that the RNC cut came from Trump Victory. The total of $5600 each from Barbara and Randall Smith that ended up in Trump For President is the maximum allowed by law for an individual candidate, so the rest went to the RNC. Randall Smith Biography, Age, Height, Wife, Net Worth, Family Deadline Extended: D CEOs Commercial Real Estate Awards, Submit Your Transactions to D CEOs Deal Ticker. As of this year, through MediaNews Group, Alden has stakes in about two hundred American newspapers. He entered the house into the Palm Beach Board of Realtors Multiple Listing Serviceon Sept. 19 at $6.95 million and the deal closed about five weeks later. Alden is the hedge fund mostrecently described asthe gelatinous cube scouring the news industrys dungeon. Or, more simply, as adestroyer of newspapers.. So who is Randall Smith and what does he want with all these newspapers? Inflationary pressures in the global economy are temporary and wont be long-term problems, according to hedge fund investor Anthony Scaramucci. This investment philosophy helps explain why Alden also owns a $143 million position in Gannett, smaller stakesin A.H. Belo, McClatchy, Media General and Journal Communications. It appears, , with Wall Street veterans rather than media executives, and until very recently it nearly entirely shunned attention. Singleton has also been comfortable through the years partnering with Gannett and other companies, in one instance running several papers for Hearst, which also made a big investment in MediaNews. Nor could I locate a published photo of Smith or his exact age (roughly 68, I think). Bankruptcy always attracts their attention, says Julie Reynolds, a former reporter at the, Media observers note that they make cuts almost from day one. Both provided Aldens office in Manhattans Lipstick Building as their address. Socially, Im very shy. On average, Tribune Publishing executives and independent directors trade stock every 31 days with the average trade being worth of $6,589,782. The chief executive of Odey Asset Management has resigned, Portfolio Adviser has learned, marking the second senior departure from Crispin Odeys hedge fund business in a month. But put me at a party thats not about business, and Ill be the guy in the corner chain-drinking and looking at my watch to see when I can leave., Smith was befriended by John Sughrue, who had come to Dallas from New York and whos now one of the developers behind Museum Tower. In addition, it operates Tribune Content Agency, a syndication and licensing business that provides daily news service and syndicated premium content to approximately 2,000 media and digital information publishers. Alden Global was founded in 2007. Nothing could be further from the truth. Randall Duncan "Randy" Smith (born 1942) is an American hedge fund manager, and the founder and chief of investments of Alden Global Capital. He was given responsibility for Dallas in mid-1999. He continued to work for his father through high school, then got a job at a restaurant washing dishes and peeling calamari. Randall Smith serves as Director of the Company. Spire Realty's Caleb Smith: The Next Trammell Crow? Smith is one of the few who is localand thats an advantage, he says. It was a bankruptcy trading firm described as devoted exclusively to the tired and the poor of the corporate community, by Hilary Rosenberg in her 1992 book The, Vulture Investors: The Winners and Losers of the Great American Bankruptcy Feeding Frenzy.
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