The Baltimore Sun’s parent company, the publisher formerly known as Tribune Publishing, fended off a takeover bid earlier this year. This time around, though, it looks like they’re likely to succumb.
Gannett, which publishes USA Today, made a $400 million takeover bid for the parent company of the Sun, the LA Times, and the Chicago Tribune. That didn’t work out, but a new, higher offer has moved the deal into “not if but when” status. Gannett is already the biggest publisher of daily papers in the country; the acquisition of tronc (yep, that’s what Tribune Publishing is now called, didn’t you see John Oliver making jokes about it?) would only increase their dominance in the field.
While media consolidation is largely a bad thing, a Gannett takeover is marginally less terrifying than tronc, which, as many noted, was run by executives with little-to-no journalism or media experience. And some people think that Gannett’s model of business is a good one for invigorating smaller papers, at least. Whether it will translate to even more consolidation and buyouts at the Sun remains to be seen.
Politico has a detailed rundown of the ins-and-outs of this particular deal.