Magazine article Editor & Publisher

Local Group Buys 'Chicago Sun-Times' Weeklies -- Minutes after Their Closing Announced

Magazine article Editor & Publisher

Local Group Buys 'Chicago Sun-Times' Weeklies -- Minutes after Their Closing Announced

Article excerpt

In a newspaper industry deus ex machina, a small chain of Chicago weeklies stepped in late Wednesday to buy three Sun-Times Media Group (STMG) papers literally minutes after their demise had been announced.

"They're not dead yet," Wednesday Journal Inc. group Publisher Dan Haley wrote E&P in an e-mail Wednesday evening. "About 90 minutes ago our Oak Park-based newspaper company reached an agreement with the Sun-Times to buy the three papers."

Haley said his group had been in talks with STMG for the last week, and it had looked like the sale would not go through. "Yesterday the deal was dead," he said. "Today it has been resuscitated and we've reached a tentative agreement. We expect to publish all three papers the week after next so there will be no interruption."

As E&P reported earlier Wednesday, STMG set Jan. 30 as the last publication date for The Skyline, which circulates in the Loop and Near North neighborhood; the Booster and the News Star, both papers serving Chicago's North Side neighborhoods.

The shutdowns, and now the sale, are part of STMG's announced plan to chop operating expenses by $50 million in the next six months. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.