An investment group led by a former Chicago alderman and a coalition of labor unions has acquired the Chicago Sun-Times.
ST Acquisition Holdings LLC made it official in a Thursday statement announcing an afternoon news conference. Former Alderman Edwin Eisendrath and representatives from the Chicago Federation of Labor and Sun-Times will attend.
Eisendrath submitted a bid last month after Sun-Times owner Wrapports LLC announced it would enter into discussions with Tronc Inc., which owns the rival Chicago Tribune, to acquire the paper.
He says in an email that the group is investing in a "journalistic voice that's genuine, accurate and consistently reporting news" that matters to Chicago residents.
Details of the deal weren't disclosed, including the complete list of investors.
A message for Chicago-based Wrapports wasn't returned.