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.READ MORE: Woodstock Woman's Car Gets Damaged, Then Insurance Company Refuses To Pay Because She Called Police 2 Hours Too Late
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.READ MORE: Colin Powell, First Black Secretary Of State, Dies At 84 Of Complications From COVID-19
Chicago-based Tronc announced in May its intent to acquire Wrapports.
A Tronc spokesman didn’t immediately return a phone call for comment.MORE NEWS: Jubilant And Inspired Fans, Booming Businesses Near Wintrust Arena As Chicago Sky Win WNBA Championship
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