In this Encore Edition of What Works, freelance investigative journalist Julie Reynolds talks about her singular pursuit of the truth about Alden Global Capital, the secretive New York hedge fund that has gobbled up newspapers across the country, stripping assets and firing reporters. Reynolds connects the dots from Alden to Cerberus Capital Management, the "shadow bank" that backed Alden's recent takeover of Tribune Publishing. Dan explores pink slime news sites, and Ellen reports on some good news for newspaper readers in the town that inspired Frostbite Falls, home to Rocky and Bullwinkle.

Dan and Ellen interviewed Julie in October 2021 but her research is still valid today, an unfortunate circumstance for the future of independent local journalism.