Hotelier Stewart Bainum is to launch an all-digital news brand, The Baltimore Banner, having lost out in a bid to buy the Baltimore Sun earlier this year. There will be a launch budget of $15m and a start-up staff of 50. The goal is to break even after five years with revenue from subscriptions and it will be operated as a non-profit enterprise. Bainum chairs the family-owned Choice Hotels International, owner of Comfort Inn and Quality Inn hotel chains.
Baltimore news launch
