The Baltimore Sun has been sold by Alden Global Capital to David Smith, the executive chairman of Sinclair, Inc.
Smith used his own money for the transaction, but said there could be cooperation between Sinclair – known for its chain of television stations – and the Sun in the future. Smith will remain the chairman of Sinclair. The price of the transaction has not been disclosed.
This could be a telling sign for the Hartford Courant, which is also owned by Alden. Does the sale of the Sun mean Alden is ready to begin selling off its newspaper assets one by one? Is it possible a local investment group, or another media company, has an opportunity to buy the Courant and rescue it from its downward spiral toward the category known as “ghost papers?”
The way to end this stand up is: “One thing’s for certain. This story is far from over.”