Current:Home > FinanceThe Baltimore Sun bought by Sinclair media executive -Profound Wealth Insights
The Baltimore Sun bought by Sinclair media executive
View
Date:2025-04-24 22:15:27
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! (241)
Related
- Man can't find second winning lottery ticket, sues over $394 million jackpot, lawsuit says
- Breaking Bad Actor Mark Margolis Dead at 83
- Texas A&M reaches $1 million settlement with Black journalism professor
- Taylor Swift's remaining surprise songs: What you still might hear on the Eras Tour
- The seven biggest college football quarterback competitions include Michigan, Ohio State
- On 3rd anniversary, Beirut port blast probe blocked by intrigue and even the death toll is disputed
- Wild otter attack leads to woman being airlifted to hospital, 2 others injured
- Q&A: Keith Urban talks 2024 album, Vegas residency, and the Nashville Songwriters Hall of Fame
- 'Most Whopper
- North Dakota regulators deny siting permit for Summit carbon dioxide pipeline
Ranking
- IOC's decision to separate speed climbing from other disciplines paying off
- Nick Viall Claims Tom Sandoval Showed Endearing Photos of Raquel Leviss to Special Forces Cast
- Biden’s inaction on death penalty may be a top campaign issue as Trump and DeSantis laud executions
- Taurasi becomes first player in WNBA history with 10,000 points
- New Orleans mayor’s former bodyguard making first court appearance after July indictment
- The Summer I Turned Pretty Season 3 Is Coming: All the Dreamy Details
- Lawyer for Bryan Kohberger says he was driving alone night of murders
- 5-year-old girl dies after being struck by starting gate at harness race
Recommendation
Carolinas bracing for second landfall from Tropical Storm Debby: Live updates
Why Tia Mowry Is Terrified to Date After Cory Hardrict Divorce
Taurasi becomes first player in WNBA history with 10,000 points
Chairperson of Alabama’s medical marijuana commission steps down
Chief beer officer for Yard House: A side gig that comes with a daily swig.
Why Tia Mowry Is Terrified to Date After Cory Hardrict Divorce
Family of Ricky Cobb II, Black man fatally shot during traffic stop, calls for troopers involved to be fired
Fired New Mexico State basketball coach says he was made the scapegoat for toxic culture