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Tribune Media

Top bidder backs away from deal to buy Sun building

Top bidder backs away from deal to buy Sun building

Baltimore developer Mark Sapperstein has backed away from a deal to buy the Calvert Street buildings rented by the Baltimore Sun.

Sapperstein said he informed Chicago-based Tribune Media, which owns 501 N. Calvert Street and a parking garage next door, about his decision about two weeks ago. He said he determined he had too many competing demands on his time, due to other family and business obligations.

A spokesman for Tribune declined to comment. The move might disrupt the timeline the company laid out this summer, when it told investors it expected to sell the properties by the end of September.

Tribune is a television company that in 2014 spun-off its newspapers,...

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