Surprise media deals often turn out to make all kinds of sense in the light of the second day. So it is with Alden Global Capital’s sale, announced Monday night, of The Baltimore Sun to Sinclair Inc.’s executive chairman, David D. Smith.
Wait, isn’t Alden an acquirer of struggling newspaper properties, which it then runs on the cheap, rather than a seller? Why say yes now to a local bid from Smith when Alden rejected one from hotel magnate Stewart W. Bainum Jr. less than three years ago?
