David D. Smith, the executive chairman of Sinclair Broadcast Group, has bought Baltimore Sun Media, the parent company of The Baltimore Sun and a few other Maryland-based news publications, vowing to turn the 187-year-old newspaper into a “hugely profitable and successful” business.

In a private deal, first reported by the Baltimore Sun yesterday (Jan. 15), Smith acquired Baltimore Sun Media from Alden Global Capital, a New York hedge fund that owns hundreds of newspapers. It’s unclear how much Smith paid for the acquisition.

In addition to the Sun,........

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