Current:Home > ScamsThe Baltimore Sun bought by Sinclair media executive -Aspire Money Growth
The Baltimore Sun bought by Sinclair media executive
Indexbit Exchange View
Date:2025-04-08 15:20:14
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
- Trump issues order to ban transgender troops from serving openly in the military
- Yes, dietary choices can contribute to diabetes risk: What foods to avoid
- André Braugher, star of 'Brooklyn 99' and 'Homicide,' dies at 61
- New, stronger climate proposal released at COP28, but doesn’t quite call for fossil fuel phase-out
- Louvre will undergo expansion and restoration project, Macron says
- Sports Illustrated publisher Arena Group fires CEO following AI controversy
- 'Big Bang Theory' star Kate Micucci reveals lung cancer diagnosis: 'I've never smoked a cigarette'
- 'Love is Blind' Season 6 premiere date announced: When do new episodes come out?
- Where will Elmo go? HBO moves away from 'Sesame Street'
- Biden says Netanyahu's government is starting to lose support and needs to change
Ranking
- Why Sean "Diddy" Combs Is Being Given a Laptop in Jail Amid Witness Intimidation Fears
- Natalia Grace, Orphan Accused of Trying to Kill Adoptive Parents, Speaks Out in Chilling Docuseries
- Colorado cattle industry sues over wolf reintroduction on the cusp of the animals’ release
- Why Bella Thorne Is Trying to Hide Battery Packs in Her Hair for Mark Emms Wedding
- Newly elected West Virginia lawmaker arrested and accused of making terroristic threats
- Cheating in sports: Michigan football the latest scandal. Why is playing by rules so hard?
- Missiles from rebel territory in Yemen miss a ship near the key Bab el-Mandeb Strait
- Girl dinner, the Roman Empire: A look at TikTok's top videos, creators and trends of 2023
Recommendation
Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
Federal Reserve may shed light on prospects for rate cuts in 2024 while keeping key rate unchanged
US to spend $700M on new embassy in Ireland, breaks ground on new embassy in Saudi Arabia
André Braugher, star of 'Brooklyn 99' and 'Homicide,' dies at 61
Could Bill Belichick, Robert Kraft reunite? Maybe in Pro Football Hall of Fame's 2026 class
Jennifer Aniston says she was texting with Matthew Perry the morning of his death: He was happy
House set for key vote on Biden impeachment inquiry as Republicans unite behind investigation
Are post offices, banks, shipping services open on Christmas Eve and Christmas Day 2023?