Sun-Times Buys 17% Stake In Tribune
By Ken Hare
Chicago Defender Staff Writer
Sun Times owner, Michael Ferro, has recently purchased $44.4 million investment into Tribune Publishing making him the largest stakeholder in the company. Media watchdogs are speculating if there will eventually be a merger of the two papers into one.
Chicago Tribune Media Group has been distributing the Sun-Times since 2007 and printing the Sun-Times since 2011, both under long-term agreements. In 2014 Chicago Tribune Media Group acquired all 38 suburban daily and weekly newspapers owned by Sun-Times parent company Wrapports LLC.
“I am excited to be working with the company’s award-winning brands,” Ferro said in a statement. “I see tremendous upside to create value and put Tribune Publishing at the forefront of technology and content to benefit journalists and shareholders.”