Group Set to Buy Sun-Times, Chicago Reader: Report

According to a report, the Chicago Sun-Times and Chicago Reader are one step closer to having a new owner.

That report, which comes from the Sun-Times, says that former Chicago Ald. Edwin Eisendrath, along with a group of labor unions, is set to acquire the publications as early as Thursday morning.

“A great group has come together and make sure that a genuine voice with honest and good reporting that connects with working men and women thrives,” Eisendrath told the Sun-Times.

The deal comes after the newspaper was reportedly on the radar of Tronc, which owns the Chicago Tribune. That sale came with some additional complications, including antitrust concerns voiced by the Justice Department.

According to the Tribune, those complications ultimately led to the Sun-Times posting an ad seeking a buyer to keep the paper independent, and Eisendrath’s bid came after the ad was run last month.  

Wrapports LLC is the current owner of the Sun-Times, having purchased the newspaper in Dec. 2011. The sale price at the time was $25 million, including $5 million in cash. 

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