The hedge fund Alden Capital Group challenged portions of a competitor's bid for McClatchy Co. in court filings late Wednesday, a move that confirmed its rumored interest in buying the company and threatened to further delay the auction that will decide the local news company's future.
Alden, which owns the MediaNews Group chain of newspapers and a third of the Tribune Co., filed an emergency motion asking Judge Michael E. Wiles to effectively disallow portions of the bid from rival hedge fund Chatham Asset Management.
The auction is scheduled for 10 a.m. ET on Thursday. It was not immediately clear when a hearing on Alden's motion might be held.
