Feder: Is Doomsday looming for Chicago Tribune?

Barring a last-minute miracle, Friday could signal the beginning of the end of the Chicago Tribune as we know it.

That's when the board of directors of Chicago-based Tribune Publishing will vote on a takeover by Alden Global Capital, the New York-based hedge fund known for decimating local journalism.

Herculean efforts to attract an alternate buyer have failed, leaving Alden in the driver's seat.

The only remaining hope for a different outcome may rest with Dr. Patrick Soon-Shiong, owner of the Los Angeles Times and the second biggest shareholder in Tribune Publishing.

"Alden ownership would be a disaster for Chicago, democracy and society at large," Chicago Tribune Guild President Gregory Pratt wrote in an open letter to Soon-Shiong. "We're not asking you to buy the company, though that would be great. But we are asking you to use your power to stop Alden from consolidating its own."

Get the full report, and more Chicago media news, at robertfeder.com.