As the Tribune Company, parent company of The Baltimore Sun, prepares to exit
bankruptcy it is exploring the possibility of selling some of its newspaper
assets, including Baltimore ’s
major newspaper. According to this story by Edmund Lee and Serena
Saitto in Bloomberg, the company believes a sale of some of its papers “would
bring an influx of cash to the company after four years of bankruptcy.”
“The owners may hold onto the larger newspapers, such as the
ones in Los Angeles and Chicago,
and look to sell the smaller titles more immediately, said Reed Phillips,
managing partner of investment bank DeSilva & Phillips LLC.”
That would seem to include Baltimore .
The Abell Foundation has previously expressed an interest in buying
The Sun. According to this story by Gary Haber in The Baltimore Business
Journal the foundation expressed an interest in buying the paper before the
Tribune company sought protection of the bankruptcy courts.
“If the Abell Foundation were to buy the Sun, it would be a
homecoming of sorts for the newspaper. Arunah Sheperdson Abell founded the Sun
in 1837. It was owned by the A.S. Abell Co., until 1986 when it was sold to
Times-Mirror Co. in 1986 in a deal that included the Baltimore Evening Sun and
other media properties.”
What goes around comes around.
