Current:Home > MyThe Baltimore Sun bought by Sinclair media executive -MarketPoint
The Baltimore Sun bought by Sinclair media executive
View
Date:2025-04-13 06:48:27
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! (6)
Related
- Jamie Foxx reps say actor was hit in face by a glass at birthday dinner, needed stitches
- 2 killed, 3 injured in shooting at makeshift club in Houston
- Average rate on 30
- Grammy nominee Teddy Swims on love, growth and embracing change
- Krispy Kreme offers a free dozen Grinch green doughnuts: When to get the deal
- Why members of two of EPA's influential science advisory committees were let go
- Moving abroad can be expensive: These 5 countries will 'pay' you to move there
- Toyota to invest $922 million to build a new paint facility at its Kentucky complex
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- Grammy nominee Teddy Swims on love, growth and embracing change
Ranking
- Justice Department, Louisville reach deal after probe prompted by Breonna Taylor killing
- 'We're reborn!' Gazans express joy at returning home to north
- South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment
- Tarte Shape Tape Concealer Sells Once Every 4 Seconds: Get 50% Off Before It's Gone
- Why members of two of EPA's influential science advisory committees were let go
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- Hackers hit Rhode Island benefits system in major cyberattack. Personal data could be released soon
- What do we know about the mysterious drones reported flying over New Jersey?
Recommendation
Bodycam footage shows high
NFL Week 15 picks straight up and against spread: Bills, Lions put No. 1 seed hopes on line
EU countries double down on a halt to Syrian asylum claims but will not yet send people back
Stamford Road collision sends motorcyclist flying; driver arrested
IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
Bill Belichick's salary at North Carolina: School releases football coach's contract details
How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
South Korea's acting president moves to reassure allies, calm markets after Yoon impeachment