Sinclair Chairman David D. Smith Acquires Baltimore Sun

The Baltimore Sun, Maryland's largest newspaper, has been sold to David D. Smith, the executive chairman of Sinclair TV stations, in a private deal with Alden Global Capital. Smith, a Baltimore native, aims to support his hometown newspaper and believes in its potential profitability and public service. The sale marks the first time in nearly four decades that the Sun will have a local owner. The newspaper has faced challenges from declining circulation and advertising revenue, as well as competition from The Baltimore Banner. Smith's acquisition reflects a trend of wealthy investors seeking to revive news organizations, and Baltimore Sun Media has earned 16 Pulitzer Prizes, with The Capital Gazette receiving a special Pulitzer citation for its coverage of a 2018 shooting attack.