Current:Home > StocksThe Baltimore Sun bought by Sinclair media executive -FundConnect
The Baltimore Sun bought by Sinclair media executive
View
Date:2025-04-17 15:45:24
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! (836)
Related
- Taylor Swift Eras Archive site launches on singer's 35th birthday. What is it?
- How a cat, John Lennon and Henry Cavill's hairspray put a sassy spin on the spy movie
- Correction: Palestinian Groups-Florida story.
- Florida Senate sends messages to Washington on budget, foreign policy, term limits
- The FBI should have done more to collect intelligence before the Capitol riot, watchdog finds
- Washington Commanders hiring Dallas Cowboys defensive coordinator Dan Quinn as coach, AP sources say
- The battle to change Native American logos weighs on, but some communities are reinstating them
- Suits Spinoff TV Show States New Details for the Record
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Kentucky House boosts school spending but leaves out guaranteed teacher raises and universal pre-K
Ranking
- Who's hosting 'Saturday Night Live' tonight? Musical guest, how to watch Dec. 14 episode
- Taylor Swift, Miley Cyrus and SZA are poised to win big at the Grammys. But will they?
- Why the FTC is cracking down on location data brokers
- Score a $598 Tory Burch Dress for $60, a $248 Top for $25, and More Can't-Miss Deals
- The Daily Money: Spending more on holiday travel?
- US founder of Haiti orphanage who is accused of sexual abuse will remain behind bars for now
- Big Brother's Christie Murphy Gives Birth, Welcomes Twins With Wife Jamie Martin
- The Best Valentine's Day Gifts Based On Each Love Language
Recommendation
Senate begins final push to expand Social Security benefits for millions of people
Loud Budgeting Is the New TikTok Money Trend, Here Are the Essentials to Get You on Board
NBA trade deadline: Will the Lakers trade for Dejounte Murray?
The Senate is headed for a crucial test vote on new border policies and Ukraine aid
Tree trimmer dead after getting caught in wood chipper at Florida town hall
The Best Red Outfits for February’s Big Football Game
New Hampshire House refuses to either further restrict or protect abortion rights
IRS gives Minnesota a final ‘no’ on exempting state tax rebates from federal taxes