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Baltimore Sun Deal Sets Up Major Test For Nonprofit News Model By Rob Lever
on March 14 2021 2:59 PM
After years of staff cuts, shrinking budgets and declining readership, the Baltimore Sun finally has some good news to report about itself: a deal for a new nonprofit group to take over, and potentially revive the struggling newspaper.
The plan unveiled in February comes in response to an extraordinary movement supported by civic and business leaders, sports figures, journalists and others to rescue the 184-year-old newspaper and bring it back to local ownership.
The nonprofit Sunlight for All Institute, led by businessman Stewart Bainum, struck the tentative deal to acquire the Sun and affiliated newspapers for $65 million as part of the sale of parent firm Tribune Publishing to Alden Global Capital.