The Baltimore Sun's new owner, David D. Smith, met with staffers today for more than two hours. Many left on edge.
He claimed he had read the paper just four times. He grew up here; his family's local TV empire - Sinclair - is based in Baltimore Co.
Other highlights:
Smith said he paid nine figures, a seemingly staggering sum. (Bezos paid $250M for the WashPost.)
Unclear if the undisclosed figure includes the licensing fees required by Alden Global Capital, the hedge fund that sold the Sun. Smith will rely on Alden's CMS and other services.
Smith announced the Sun was profitable and that he'd make it more profitable. He mocked Bezos, saying he didn't intend to lose $50M a year on the paper.
(The Amazon founder is losing more than that.)
Smith was dismissive of the Sun's journalism, saying it wasn't publishing enough stories that readers were interested in, saying there was fraud in local government and schools.
And he pointed repeatedly to Sinclair's local station WBFF's flashy reports "Project Baltimore."
The new Sun owner deflected questions about his own political activities, calling himself apolitical.
Smith has been a major funder of GOP candidates; more recently he has funded far-right outfits like Project Veritas and Turning Point USA & financed local ballot initiatives.
Sinclair owns or controls 200+ stations nationally. It has pulled the news coverage and commentaries on those stations markedly to the right, ultimately becoming quite supportive of Trump.
Smith bought the Sun personally, saying shareholders wouldn't let devote $ to a paper.
To his perception the paper failed to cover local corruption:
it has revealed repeated scandals at City Hall and police HQ. In 2020, the paper won a Pulitzer for exposing the mayor's corruption and drove her from office. pulitzer.org/winners/staff-…
The Sun has a proud history dating back to 1837.
I worked there from 1994-2004, and covered media (and Sinclair) for the final four years.
It has been beat up, cut down and brutalized by a wave of corporate owners, beginning with Tribune in the early 2000s.
The Sun's journalists have soldiered on.
The non-profit Baltimore Banner has risen up but not dispatched the paper.
Unclear what the current moment holds.
I should note this account is based on my conversations with two current Sun staffers
• • •
Missing some Tweet in this thread? You can try to
force a refresh
A thread on my new investigation in collaboration with crackerjack team at Floodlight News - cannot say enough good things about @mirandacgreen@marioarizabaez
It's on the manipulation of news media on behalf of giant Florida & Alabama power cos: 🧵
"Invisibility is more powerful than celebrity," reads a plaque at Matrix LLC.
Behind the scenes, Matrix maintained a complex web of connections to sites boosting Alabama Power and Florida Power & Light - which took on their political adversaries, critics & journalists.
"Mostly everything was all made up," one former Alabama energy regulator told us. "You get to thinking, 'Why are they attacking me?' I'm just telling the truth and trying to do what's right for the people."
NEWS: Shortly after the 2020 election, a Fox News producer begged colleagues not to let Jeanine Pirro back on the air. She was spouting election fraud conspiracies pulled from the web.
More in my NPR exclusive on Dominion’s $1.6B defamation suit agst Fox: npr.org/2022/09/06/112…
Pirro’s show didn’t appear on Nov 7, 2020, in favor of a Biden address. Still, she returned to air repeatedly carrying water for Trump’s lies about the election.
Unlike Lou Dobbs, who was unceremoniously shown the door, Pirro was elevated this yr to co host of the Five
Pirro is at the heart of legal clashes between Fox and Dominion in the defamation suit.
"I don't know how anything could be more newsworthy than the president of the United States making the allegation” of election fraud, Fox’s outside atty, Dan Webb, tells me.
News: Union members at multiple Tribune newspapers say they're told Alden Global Capital intends to seek voluntary buyouts company-wide.
Note: Alden just loaded Tribune w $278MM in debt for its $630+ acquisition of newspaper chain. Imagine layoffs ensue if buyout goals not met.
$60MM of that debt carries a 13% rate - it was borrowed from Media News - Alden Global's other newspaper division.
h/t to @benyt for initial tweet about NYDNews & memo
Alden's purchase of Tribune went through on Sunday, per SEC filings. Notice of intended buyouts sent on third day of ownership. At the least, includes guild-represented units. Will see how non-guild employees handled.
NEWS ON TRIBUNE SALE: medical device billionaire Hansjorg Wyss drops out of bidding for TribPub after reviewing finances of Chicago Tribune; hotel magnate Stewart Bainum Jr “more committed than ever” to make bid for whole chain exceeding offer from hedge fund Alden Global/MORE
Wyss and his foundation hopes to transform ChiTrib into national model like WaPo under Baron & Bezos; realized it would have taken too much $ and wrong mission - CTrib needs to serve region & city. Wyss pulled out Fri eve.
This from 2 people with direct knowledge to NPR. / more
Trib Pub owns CTrib, NYDaily News, Hartford Courant, Orlando Sentinel, Ft Lauderdale Allentown Morning Call & others in Va and elsewhere
Local figures emerged w interest in each - tho Chicago consistently toughest to crack until Wyss entered picture several weeks ago / more
CORRECTION: I misidentified official speaking at virtual event w Chicago Tribune staffers today
Quotes from Chicago Tribune editor and publisher Colin McMahon, not TribPub CEO Terry Jimenez
My apologies to both.
Corrected tweets to follow
NEWS: Chicago Tribune editor Colin McMahon told staffers - audio obtained by NPR
> praises staffers' journalism
> calls fears of Alden "valid"
> says "space" for mission will be "smaller than it is today"
> says Trib papers make 10-13% profits - says Alden will seek 20%+
McMahon: "I acutely feel the stress that people are under the frustration with the way the company has been handling things, the concern and even fear of what is to come."
UPDATE: For 2nd time, U.S. Office of Special Counsel has found Trump's former CEO at US Agency for Global Media probably committed wrongdoing.
Michael Pack hired McGuire Woods law firm to investigate top agency execs he wanted to fire; he paid firm $2M+ in taxpayer funds /more
This courtesy of attys at @GovAcctProj for execs who became whistleblowers
Earlier, special counsel found Pack probably committed wrongdoing in violating newsroom's independence at Voice of America, firing leaders of its sister networks & forcing out foreign journalists.
Here's NPR's original report revealing the contract with law firm (about half-way down in story): npr.org/2020/12/08/944…