Chicago Sun-Times sold for about $20 million

Time Out Chicago | Tribune | Sun-Times
Local investors are buying the Sun-Times and its profitable suburban papers for about $5 million less than it cost another local group to acquire it in 2009. Chairman Jeremy Halbreich told staff in a memo Wednesday that he would step down immediately, making way for former Newsday publisher and new investor Timothy Knight to take over, reports Robert Feder. The Tribune reports:

“While the flagship paper will remain an integral part of the company, the primary emphasis for the Sun-Times going forward will be on evolving its digital strategy, Knight said.”

The paper introduced a paid content strategy just weeks ago, and investors believe the suburban papers have unmined digital revenue possibilities, according to the Tribune. The sale is expected to close in a few days, the Sun-Times says.

We have made it easy to comment on posts, however we require civility and encourage full names to that end (first initial, last name is OK). Please read our guidelines here before commenting.

  • Anonymous

    Go for the digital version! I pay for digital news. It’s no different than a paper except the paper is missing, and I can get an immediate linked update. In a paper I’d have to wait until the next edition, and then it might be buried where I don’t see it.