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BA

Baltimore Sun

media
PE-OWNED

Major daily newspaper serving Maryland.

PE-OWNED

Acquired by Alden Global Capital2021-05-01

View PE Firm Profile

What Made It Great

“

Maryland's largest and most comprehensive news source.

What PE Will Likely Do

Predictions

Significant newsroom layoffs, likely reducing the Baltimore Sun's reporting staff by over 50%

HIGH LIKELIHOODBased on: Alden Global Capital's well-documented track record of aggressive cost-cutting and staff reductions at other local newspapers it has acquired

Consolidation of news content across Alden's other local media properties, leading to less original reporting and more syndicated or shared articles

HIGH LIKELIHOODBased on: The industry playbook for private equity acquisitions of media companies, which frequently involves the tactics outlined above

Implementation of a strict paywall, significantly reducing free public access to Baltimore Sun content

HIGH LIKELIHOODBased on: The Baltimore Sun's position as a major daily newspaper serving a specific geographic market, making it a prime target for Alden's cost-cutting approach

Reduction in print publication frequency, potentially moving to a 3-4 day per week print schedule or eliminating the print edition entirely

HIGH LIKELIHOODBased on: The Baltimore Sun's position as a major daily newspaper serving a specific geographic market, making it a prime target for Alden's cost-cutting approach

Scaling back of investigative journalism teams and in-depth reporting, focusing more on lower-cost, high-volume local news coverage

HIGH LIKELIHOODBased on: The Baltimore Sun's position as a major daily newspaper serving a specific geographic market, making it a prime target for Alden's cost-cutting approach

Expected Timeline

Phases
0-6 monthsCompleted

“0 to 6 months months”

Acquisition announced, initial promises of 'investment' in the Baltimore Sun, followed by first round of layoffs and restructuring

6-12 monthsYOU ARE HERE

“6 to 12 months months”

Print publication reduced, more content cuts and consolidation across Alden's media properties

12-24 months

“12 to 24 months months”

Obvious decline in content quality and breadth of coverage, leading to reader complaints and erosion of the Baltimore Sun's market presence

Similar Cases

Other companies that followed a similar path after PE acquisition

Operating

Sports Illustrated

Authentic Brands Group·2019

See full case study
Operating

McClatchy Newspapers

Chatham Asset Management·2020

See full case study
Operating

Denver Post

Alden Global Capital·2018

See full case study
Operating

Chicago Tribune

Alden Global Capital·2021

See full case study
Operating

Vice Media

TPG Capital·2017

See full case study

What You Can Do

Take Action

Actions

  • Subscribe directly to the Baltimore Sun to support quality local journalism and resist the effects of Alden's cost-cutting

  • Advocate for the Baltimore Sun to remain an independent, locally-owned newspaper by contacting local political representatives and community organizations

  • Spread awareness of Alden Global Capital's negative impact on local media and encourage others to support the Baltimore Sun and other independent local news sources

Alternatives

Research independent alternativesSAFE

Look for family-owned or employee-owned businesses

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"Baltimore Sun is now PE-owned. Here's what that means for you."