Tribune Publishing Co., the parent company of the Morning Call newspaper in Allentown is being acquired by New York-based Hedge Fund, Alden Global Capital.

The Central Penn Business Journal and Lehigh Valley Business have hired two industry veterans to lead the news and sales teams of both media outlets.

With the impending sale of the Reading Eagle Co. to Media News Group of Denver, the company has issued a notice that calls for the elimination of 81 jobs effective June 30 – the day the sale is expected to be complete.

The Reading Eagle is reporting that its parent company has attracted a qualified bidder to purchase the company out of bankruptcy.