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 hedge fund Alden Global Capital in a private deal reached on Friday.
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.
“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.
“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.
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.
Persons:
David D, Smith, Sinclair, “, ” Smith, Alden
Organizations:
BALTIMORE, Baltimore Sun, Sinclair Inc, Baltimore Sun Media, Alden Global Capital, Sinclair, Sun, Tribune Publishing
Locations:
Chicago, Maryland