Current:Home > FinanceThe Baltimore Sun bought by Sinclair media executive -Excel Wealth Summit
The Baltimore Sun bought by Sinclair media executive
NovaQuant Quantitative Think Tank Center View
Date:2025-04-09 08:26:01
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! (7817)
Related
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Patrick Mahomes, wife Brittany visit Super Bowl parade shooting victims: 'We want to be there'
- In MLB jersey controversy, cheap-looking new duds cause a stir across baseball
- This week on Sunday Morning (February 18)
- Mets have visions of grandeur, and a dynasty, with Juan Soto as major catalyst
- FDA approves first cell therapy to treat aggressive forms of melanoma
- Kansas and North Carolina dropping fast in latest men's NCAA tournament Bracketology
- NASA's Mars mission means crews are needed to simulate life on the Red Planet: How to apply
- Friday the 13th luck? 13 past Mega Millions jackpot wins in December. See top 10 lottery prizes
- Compton man who may have been dog breeder mauled to death by pit bulls in backyard
Ranking
- Former longtime South Carolina congressman John Spratt dies at 82
- Solemn monument to Japanese American WWII detainees lists more than 125,000 names
- In MLB jersey controversy, cheap-looking new duds cause a stir across baseball
- Army Reserve soldiers, close friends killed in drone attack, mourned at funerals in Georgia
- Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
- Why Ukraine needs U.S. funding, and why NATO says that funding is an investment in U.S. security
- Target launches new brand 'dealworthy' that will give shoppers big savings on items
- Q&A: Everyday Plastics Are Making Us Sick—and Costing Us $250 Billion a Year in Healthcare
Recommendation
Jamie Foxx gets stitches after a glass is thrown at him during dinner in Beverly Hills
Rescuers work to get a baby elephant back on her feet after a train collision that killed her mother
MLS to lock out referees. Lionel Messi’s Miami could open season with replacement officials.
A Guide to Teen Mom Alum Kailyn Lowry's Sprawling Family Tree
Rylee Arnold Shares a Long
Houston megachurch to have service of ‘healing and restoration’ a week after deadly shooting
Presidents Day: From George Washington’s modest birthdays to big sales and 3-day weekends
The Real Reason Why Justin Bieber Turned Down Usher’s 2024 Super Bowl Halftime Show Invite