Current:Home > ScamsThe Baltimore Sun bought by Sinclair media executive -MoneySpot
The Baltimore Sun bought by Sinclair media executive
View
Date:2025-04-15 12:15:47
BALTIMORE (AP) — The Baltimore Sun newspaper has been purchased by David D. Smith, the executive chairman of the media conglomerate Sinclair Inc.
Smith told the newspaper he acquired Baltimore Sun Media from the investment firm Alden Global Capital in a private deal reached on Friday. He did not disclose how much he paid in the agreement.
Smith bought the paper with his own assets independently of Sinclair, which is known for its ownership of local television news stations across the U.S. He said, however, that there could be partnerships between the two brands in the future. He will remain the executive chairman at Sinclair.
“I’m in the news business because I believe … we have an absolute responsibility to serve the public interest,” Smith told the Sun in an interview. “I think the paper can be hugely profitable and successful and serve a greater public interest over time.”
Smith told the paper he will focus on local news and investigations, and he plans to use video and social media to attract new subscribers. He will begin meeting with staffers and managers of the Sun and its sister outlets on Tuesday.
Smith said he only began regularly reading the Sun a few months ago but had been interested in buying the media group around two years ago.
“The passage of time has driven me to become more focused on it, and it just seemed like the right time, so I made the deal,” Smith told the paper.
The sale to Smith comes after Alden bought the paper in 2021 as part of a $633 million purchase of the Chicago-based Tribune Publishing newspaper company.
Baltimore Sun Media, winner of 16 Pulitzer Prizes, employs more than 150 people and publishes seven other publications aside from the Sun, with more than 230,000 paid subscribers total. The Sun was founded in 1837 and has since become the largest newspaper in Maryland.
veryGood! (662)
Related
- Selena Gomez's "Weird Uncles" Steve Martin and Martin Short React to Her Engagement
- Bullish on Renewable Energy: Investors Argue Trump Can’t Stop the Revolution
- The Best Memorial Day 2023 You Can Still Shop Today: Wayfair, Amazon, Kate Spade, Nordstrom, and More
- For the intersex community, 'Every Body' exists on a spectrum
- Paris Hilton, Nicole Richie return for an 'Encore,' reminisce about 'The Simple Life'
- The Dropout’s Amanda Seyfried Reacts to Elizabeth Holmes Beginning 11-Year Prison Sentence
- Renewable Energy Groups Push Back Against Rick Perry’s Controversial Grid Study
- American Climate Video: In Case of Wildfire, Save Things of Sentimental Value
- Travis Hunter, the 2
- Ulta 24-Hour Flash Deal: Save 50% On a Hot Tools Heated Brush and Achieve Beautiful Blowouts With Ease
Ranking
- Can Bill Belichick turn North Carolina into a winner? At 72, he's chasing one last high
- WHO says aspartame is a 'possible carcinogen.' The FDA disagrees
- American Climate Video: As Hurricane Michael Blew Ashore, One Young Mother Had Nowhere to Go
- A year after victory in Dobbs decision, anti-abortion activists still in fight mode
- Nearly 400 USAID contract employees laid off in wake of Trump's 'stop work' order
- Enbridge Deal Would Replace a Troubled Great Lakes Pipeline, But When?
- Transcript: Secretary of State Antony Blinken on Face the Nation, June 25, 2023
- Luis Magaña Has Spent 20 Years Advocating for Farmworkers, But He’s Never Seen Anything Like This
Recommendation
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
Human remains found in California mountain area where actor Julian Sands went missing
Idaho militia leader Ammon Bundy is due back in court. But will he show up?
The Surprising List of States Leading U.S. on Renewable Energy
Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
Machine Gun Kelly and Megan Fox Are Invincible During London Date Night
Supreme Court tosses House Democrats' quest for records related to Trump's D.C. hotel
In Michigan, Dams Plus Climate Change Equals a Disastrous Mix