Company Officially Takes Over Sun-Times

Wrapports, LLC assumes ownership of newspaper's holdings

Monday, Dec 26, 2011  |  Updated 4:08 PM CDT
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Company Officially Takes Over Sun-Times

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The Chicago Sun-Times is officially in new hands.

Chicago-based technology and communications company, Wrapports, LLC officially assumed ownership of Sun-Times Media Holdings, LLC Monday.

The acquisition includes eight daily newspapers, more than 30 weekly newspapers and more than 40 websites.

Financial terms of the deal were not disclosed, the Sun-Times itself recently put the price at more than $20 million, citing a source.

The change of hands comes after years of financial difficulty that included bankruptcy several years ago.

Earlier this year, Sun-Times chairman James Tyree died of a sudden embolism while being treated for stomach cancer. He was the CEO of Mesirow Financial and led a team of investors to buy the Sun-Times in October 2009.

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