In a hedge fund’s bid for Tribune’s newspapers, a hidden risk lurks in the fine print

But experts said those funds also appear to include Alden’s nearly 32 percent stake in Tribune, worth around $200 million, and its controlling stake in its existing media company, MediaNews Group, the parent of about 200 titles including the Denver Post, the Mercury News and the Orange County Register. It is not clear how Alden would free up enough cash to make such an investment.