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IPFS News Link • Business/ Commerce

A SECRETIVE HEDGE FUND IS GUTTING NEWSROOMS

• https://www.theatlantic.com By McKay Coppins

The tribune tower rises above the streets of downtown Chicago in a majestic snarl of Gothic spires and flying buttresses that were designed to exude power and prestige. When plans for the building were announced in 1922, Colonel Robert R. McCormick, the longtime owner of the Chicago Tribune, said he wanted to erect "the world's most beautiful office building" for his beloved newspaper. The best architects of the era were invited to submit designs; lofty quotes about the Fourth Estate were selected to adorn the lobby. Prior to the building's completion, McCormick directed his foreign correspondents to collect "fragments" of various historical sites—a brick from the Great Wall of China, an emblem from St. Peter's Basilica—and send them back to be embedded in the tower's facade. The final product, completed in 1925, was an architectural spectacle unlike anything the city had seen before—"romance in stone and steel," as one writer described it. A century later, the Tribune Tower has retained its grandeur. It has not, however, retained the Chicago Tribune.


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