Can This Man Save The Baltimore Sun?
Journalists from other Tribune papers, including The Chicago Tribune and The Daily News, have opposed the potential sale to Alden since the New York hedge fund revealed in November 2019 that it had bought about one-third of Tribune shares. Two investigative journalists from the Chicago Tribune wrote to citizen publishers, urging them to buy the paper. Other journalists across the country started a campaign similar to the Save Our Sun effort.
They wanted to avoid Alden, whose newspaper game plan does this through a subsidiary, MediaNews Group, which includes cost cuts, including the closure of journalists to maintain profit margins. Alden says it is interested in blazing a sustainable path for local journalism. Critics point out that hedge funds treat newspapers as if they were widgets.
“The role of journalism in democracy is incredibly important to Stewart,” said Michael Rosenboom, a Baltimore entrepreneur who was an investor in his human-resource analytics company, Sun to Min. Have talked about Bannum.
Alden’s deal needs approval by the company’s shareholders to take full ownership of the Tribune publication, and the deal to sell The Sun and other Maryland papers is “nonbinding”, the Tribune publication said. As part of the acquisition, Mr. Bynum’s nonprofit company will also take over The Capital Gazette and The Carroll County Times in Annapolis.
“He has the best interests of Baltimore and Maryland at heart,” said Liz Bowie, a three-decade Sun veteran and co-president of her unit of NewsGuild Union. “I believe that a new owner, a local owner, will invest our profits back into paper, which will allow us to do a better job.”
Mr. Banam said that this issue is the oldest, his childhood friend Mr. Maloni is a childhood education. The Bannum Family Foundation Website Its philosophy is practically explained: “Poverty in childhood and deep poverty, especially in early childhood, is associated with a wide range of problems.”
“He knows his way around a spreadsheet,” Mr. Maloney said. “It is not about impractical or failed philanthropy. He is kind, but very practical. He wants his investment to work. “
Kitty bennett Contributed to research.