Newspaper union takes to the street
Rally to win local ownership of The Capital hangs in the balance
A year into its rallying cry to save The Capital and Baltimore Sun from being sold to a hedge fund, the newspapers’ unions took to the streets Saturday facing the same uncertainties as when the long-shot quest began, but with more reason for optimism.
The Washington-Baltimore News Guild launched its lobbying efforts to return The Sun, the Capital Gazette and the Carroll County Times to local ownership last April, and emotions of the newspaper’s staff and supporters have been whipsawed by events ever since.
About 50 to 75 current and former Baltimore Sun and Baltimore Sun Media employees and community activists gathered at the War Memorial Plaza in Baltimore on Saturday afternoon. They spoke about the importance of having decision makers that know the communities that the newspapers serve.
“Journalism’s a calling,” said The Capital reporter Danielle Ohl, chair of the Chesapeake News Guild, which represents Baltimore Sun Media community newspaper employees. “We’re not in it for money or fame or anybody to like us, we’re here because we care, and we hope you do too,”
Initial attempts by the local nonprofit Abell Foundation to carve The Sun away from parent Tribune Publishing never gained traction, and late last year Alden Global Capital seemingly ended the dream when it announced an offer to buy all of Tribune Publishing Co.
Alden, which has amassed nearly 200 newspapers and built a reputation for gutting staffs and lowering quality, had been harshly criticized by journalists in the Tribune chain, which also includes the flagship Chicago Tribune and the Hartford Courant.
But February brought terms of the sale and a surprise. It appeared The Sun and its community newspapers would be sold to Stewart Bainum Jr., a Maryland native and chairman of the Choice Hotel chain.
Bainum intended to run the newspaper as a nonprofit.
Less than a month later, negotiations between Alden Capital and Bainum collapsed.
Bainum then moved to buy the entire Tribune company for $650 million, $20 million more than Alden’s February bid. The Tribune board of directors voted to stick with Alden’s lower offer over uncertainties that Bainum could obtain the funding needed for such a move. It did invite him to seek more partners or to provide proof of funding.
And late last month Bainum teamed with billionaire Hansjörg Wyss. Wyss said he intended to operate the Chicago Tribune as his own, while Bainum would control the
Maryland publications. The two men would look for buyers for the other newspapers.
Federal regulators have yet to weigh in on whether they will make any efforts to slow Alden’s expansion. And Tribune’s shareholders must approve any deal.
Based on Tribune Publishing’s most recent regulatory filings with the SEC, a final decision could come by the end of June.