David D. Smith, executive chairman of Hunt Valley, Maryland-based station group Sinclair Inc. has purchased The Baltimore Sun in a private deal.
Smith said Monday that he acquired Baltimore Sun Media on Friday from investment firm Alden Global Capital for an undisclosed sum.
“I’m in the news business because I believe … we have an absolute responsibility to serve the public interest,” Smith told the Sun. “I think the paper can be hugely profitable and successful and serve a greater public interest over time,” he added. “We have one job, to tell the truth, present the facts, period. That’s our job.”
Smith bought the newspaper group independently of Sinclair.
“It was announced today that our Executive Chairman and Chairman of the Board, David Smith, has acquired The Baltimore Sun newspaper and related assets,” Sinclair said in a statement. “The acquisition was consummated with Mr. Smith’s personal assets. Sinclair, Inc. has no involvement with the transaction. Mr. Smith will continue to be our Executive Chairman and Chairman of the Board.”
Smith said he sees opportunities for partnerships between the newspaper and his TV stations, such as promoting each other’s stories, and in other ways.