Baltimore Sun Journalists Seek Local Ownership (BBJ Story)
An effort is underway by some journalists at The Baltimore Sun to find new, local ownership for the 183-year-old newspaper.
The journalists have reached out to the Abell Foundation, the Goldseker Foundation, developer David Cordish and others who have expressed interest in acquiring The Sun in the past. The move follows the November purchase of 32% of Tribune Publishing stock by Alden Global Capital, a New York-based hedge fund known for gutting staff and budgets at its newspapers, including the Denver Post. Under Alden, the Post laid off a third of its staff in 2018. Alden became the largest stakeholder in Tribune late last year and acquired two seats on the Tribune board, which expanded from six to eight members to accommodate the hedge fund.