Local businessman David Smith has purchased The Baltimore Sun, the city’s oldest newspaper, from Alden Global Capital, putting an institution that has been reporting on the state for more than a century back into the hands of local owners for the first time since 1986.
The purchase was announced in a story in The Baltimore Sun Monday.
Smith, the executive chairman of media company Sinclair Inc., personally purchased The Baltimore Sun Media Group, which includes The Sun and its affiliated newspapers, including The Capital and Maryland Gazette newspapers in Annapolis, the Carroll County Times, the Howard County Times and the Towson Times, from Alden, an investment firm and former hedge fund known for draconian cost-cutting measures. Sinclair, based in Hunt Valley, owns more than 200 television stations, including Fox 45.
The Sun said Smith intends to invest in the paper, increasing coverage of local communities and investing in investigative work.
The story continues at The Baltimore Banner: The Baltimore Sun media group sold to local businessman David Smith
WYPR and The Baltimore Banner have a joint operating agreement that allows the nonprofit organizations to work collaboratively to deliver quality journalism across the region. To learn more about the partnership, click here.
