Atalaya Capital Management.
Outgoing CEO Ben Eason lost control of the company his parents founded in 1972 to the New York hedge fund from whom he borrowed $30 million to buy the Chicago Reader and Washington City Paper.
Atalaya won the auction with a $5 million cash bid. Eason’s highest offer was a $2.3 million bid, $1.5 million of which was “in-kind contributions.” Had Eason won, he also would have had to repay Atalaya at least $12 million.
Read the details here.
This article appears in Aug 25 – Sep 1, 2009.
