Daily News spinoff stirs anxiety post Alden takeover

Rapid-fire changes underway at newspapers sold to cost-slashing hedge fund Alden Global Capital have led to a profound case of the jitters at newsrooms like the New York Daily News.

On Monday, Daily News staffers were hit with the first bout of potentially bad news when they were told via memo that they had been spun off into a separate subsidiary of Tribune Publishing called Daily News Enterprises. The baffling move, which doesn’t appear to have been replicated at any other Tribune paper, came the same day Alden fired Tribune CEO Terry Jimenez, the lone board member to oppose the Alden takeover.