A group of Chicago businessmen led by Mesirow Financial's James C. Tyree submitted a bid to buy the Sun-Times and its sister publications today, according to the paper.
Tyree's group, STMG Holdings LLC -- which also purportedly includes Blackhawks owner Rocky Wirtz, according to the Sun-Times -- said they'd pony up $25 million for the Sun-Times Media Group, which filed for bankruptcy protection in March.
The deal's subject to court approval, and would include up to $5 million in cash. The Tyree group would take on about $20 million in liabilities.
The bankruptcy judge must also consider competing offers, if any emerge.
The sale's also contingent upon labor groups agreeing to continue with their 15 percent wage-and-benefits cut, many of which were set to expire in the event of a sale.
