Group Led By Ex-Alderman Set To Acquire Chicago Sun-Times
CHICAGO (AP) — An investment group led by a former Chicago alderman along with a coalition of labor unions is close to acquiring the Chicago Sun-Times.
The Sun-Times reports former Alderman Edwin Eisendrath said Wednesday a deal to acquire the newspaper is expected to be completed Thursday.
Eisendrath has declined to disclose terms of the deal. He also says he doesn't have permission to reveal all the members of his investment group.
Eisendrath came forward with a bid to buy the Sun-Times after owner Wrapports LLC announced it would enter into discussions with Tronc Inc., which owns the rival Chicago Tribune, to acquire the newspaper.
Chicago-based Tronc announced in May its intent to acquire Wrapports.
A Tronc spokesman didn't immediately return a phone call for comment.
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