Despite the current interest in Open Data publishing, a formal and comprehensive methodology supporting an organization in deciding which data to publish and carrying out precise procedures for publishing high-quality data, is still missing. In this paper we argue that the Ontology-based Data Management paradigm can provide a formal basis for a principled approach to publish high quality, semantically annotated Open Data. We describe two main approaches to using an ontology for this endeavor, and then we present some technical results on one of the approaches, called bottom-up, where the specification of the data to be published is given in terms of the sources, and specific techniques allow deriving suitable annotations for interpreting the published data under the light of the ontology.