Journalists who work for the Daily Southtown, the Chicago Tribune and other newspapers are racing the clock, trying to save local news. They face a May 21 deadline to find investors willing to outbid Alden Global Capital, a hedge fund seeking to acquire Tribune Publishing.

If any wealthy, civic-minded people, groups or institutions want to serve a vital role in upholding truth, freedom and democracy, here’s their chance.

“Sources said the upcoming week will likely be critical to mounting a successful bid to buy Tribune Publishing and thwart Alden, which has a reputation for sweeping layoffs at its newspaper properties,” the Tribune reported Friday.

Newspapers promote transparency. We root out corruption and hold elected officials accountable. Some call us enemies of the people. We consider ourselves champions of justice. We inform, enlighten and entertain.

We worry that if Alden acquires Tribune Publishing, they’ll slash newsroom costs to increase shareholder profits. We need a few more people like Stewart Bainum, chairman of Choice Hotels.

Bainum is leading an effort to finance a $680 million bid for Tribune Publishing. The offer would surpass Alden’s $633 million bid. Bainum wants to acquire The Baltimore Sun and sell off Tribune Publishing’s other newspapers to local investors. Right now, the biggest hurdle is securing investors for the company’s flagship paper, the Chicago Tribune.

The fates of the Daily Southtown, the Beacon-News, the Naperville Sun, the Courier-News, the Post-Tribune, the Lake County News-Sun and other suburban newspapers owned by Tribune Publishing may be tied to the future of the Tribune. Though our resources may be diminished, our standards are not. Every day, journalists thoughtfully consider how to best use available resources. They weigh what issues affect people and communities where they live and decide what stories to pursue.

Some people think their town would do just fine without a newspaper. They figure most people get their information nowadays from social media or directly from government sources. They may be overlooking the vital role of a free press in checking out tips, verifying facts and substantiating claims before sharing information with the public.

“If your mother says she loves you, check it out,” a sign in the newsroom of Chicago’s City News Bureau told a young Mike Royko and others who trained to become journalists.

Opinions and unverified information shared on social media can create a lot of noise. Journalists help readers cut through the clutter and make informed decisions about who to elect to public office, what to do about a problem in their neighborhood or how to spend time with the family this weekend.

Local newspapers may be needed now more than ever just as changes disrupt the business model that has sustained enterprises for decades. In recent years politicians have told bigger lies more often and have abused the public trust in plain sight. Sometimes it seems like wealthy individuals are deliberately spreading misinformation and driving newspapers out of business so there would be one less check on their power.

“A lie can travel halfway around the world before the truth can get its boots on,” is an adage attributed to Mark Twain that speaks to the rigorous challenges of defending the truth.

Journalists help citizens follow the money by reporting how government spends tax dollars and who contributes to political campaigns. We help homeowners make sense of a complex property tax system, help business owners connect with customers and help shoppers keep up with trends.

In every profession, experienced masters share their wisdom with apprentices and journeymen. Journalists with distinguished careers have been leaving Tribune Publishing, creating fewer opportunities to train the next generation of reporters. We adapt and persevere, but it is becoming increasingly difficult to persist.

In cities with Tribune Publishing newspapers across the country, journalists are working to save local news by supporting Bainum’s efforts to buy the company. Chicago and suburban Tribune Publishing journalists will present a community forum at 6 p.m. Wednesday to discuss local news coverage. Civic leaders and other panelists will discuss the vital role of a free press in a healthy democracy.

Members of the public are invited to register online and attend the video conference forum. Tribune journalists also plan to rally May 15 near the Freedom Center in Chicago, where the Tribune and other papers are printed. Go to chicagotribuneguild.com for more information.

Time is running out. Bainum is seeking an equity partner to commit about $200 million to his group, with at least $100 million upfront, to cover the fair market value of the Chicago Tribune, the Tribune reported.

Journalists of the Chicago Tribune and other newspapers want to continue their important work. At this critical moment, we’re hoping individuals or groups with the means to save local news step up and join the effort.

tslowik@tribpub.com