Current:Home > MarketsThe Baltimore Sun bought by Sinclair media executive -BrightFuture Investments
The Baltimore Sun bought by Sinclair media executive
PredictIQ Quantitative Think Tank Center View
Date:2025-04-08 15:36:54
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! (7963)
Related
- Louvre will undergo expansion and restoration project, Macron says
- Incursions Into Indigenous Lands Not Only Threaten Tribal Food Systems, But the Planet’s Well-Being
- Cardi B Is an Emotional Proud Mommy as Her and Offset's Daughter Kulture Graduates Pre-K
- Transcript: National Security Adviser Jake Sullivan on Face the Nation, July 16, 2023
- Senate begins final push to expand Social Security benefits for millions of people
- California woman released by captors nearly 8 months after being kidnapped in Mexico
- You may have heard of the 'union boom.' The numbers tell a different story
- CBOhhhh, that's what they do
- Trump invites nearly all federal workers to quit now, get paid through September
- Transcript: National Security Adviser Jake Sullivan on Face the Nation, July 16, 2023
Ranking
- Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
- Girlfriend Collective's Massive Annual Sale Is Here: Shop Sporty Chic Summer Essentials for Up to 50% Off
- Nissan recalls over 800K SUVs because a key defect can cut off the engine
- Theme Park Packing Guide: 24 Essential Items You’ll Want to Bring to the Parks This Summer
- Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
- Catholic Bishops in the US Largely Ignore the Pope’s Concern About Climate Change, a New Study Finds
- North Dakota, Using Taxpayer Funds, Bailed Out Oil and Gas Companies by Plugging Abandoned Wells
- Reimagining Coastal Cities as Sponges to Help Protect Them From the Ravages of Climate Change
Recommendation
Kylie Jenner Shows Off Sweet Notes From Nieces Dream Kardashian & Chicago West
Flash Deal: Get a Samsung Galaxy A23 5G Phone for Just $105
How the cats of Dixfield, Maine came into a fortune — and almost lost it
Reimagining Coastal Cities as Sponges to Help Protect Them From the Ravages of Climate Change
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
Adam Sandler’s Sweet Anniversary Tribute to Wife Jackie Proves 20 Years Is Better Than 50 First Dates
This group gets left-leaning policies passed in red states. How? Ballot measures
Disgraced FTX founder Sam Bankman-Fried has another big problem: He won't shut up