The Baltimore Sun has a potential new local owner, a 74-year-old businessman who lives in Takoma Park and wants to make the Sun the latest newspaper in the country to be operated as a non-profit organization.
Tribune Publishing, the Sun’s current owner, yesterday disclosed a tentative plan to sell Maryland’s largest newspaper to an entity headed by Stewart Bainum Jr., the chairman of Choice Hotels International in Rockville.
If the sale goes through, Bainum’s non-profit, The Sunlight for All Institute, also would become the owner of The Capital in Annapolis, The Carroll County Times, The Towson Times, The Aegis and other divisions of Baltimore Sun Media, including online affiliates. The Institute, whose name is a play on the Sun’s ‘Light for All’ motto, was registered last month as a tax-exempt corporation in Delaware, but its assets would be in Maryland. It would restore the Sun to Maryland ownership for the first time since 1986.
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