Paper Tigers

Marc Lasry’s Avenue Capital now owns a chunk of the National Enquirer.


The black ink is turning increasingly red at old-school media companies, as readers and advertisers continue their migration to the Internet. Yet hedge fund and private equity investors keep stepping in to shore up the imperiled sector.

Would-be saviors include Harbinger Capital Partners, a New York–based hedge fund that has taken equity stakes in both the New York Times Co.

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