Date

Fri - 17.11.2017


Sun-Times Media Group

Sun-Times Media Holdings LLC, owner of the Chicago Sun-Times, will shut down 11 Sun weekly newspapers by the end of the year to cut costs, the Chicago Tribune revealed yesterday.

Chief Executive Officer Jeremy Halbreich said the company might close some of its offices, but savings will come from "not printing and distributing the papers," ChicagoBusines.com reported. He said other Sun-Times publications would reabsorb the weeklies' staff.

The Sun newspapers that will be eliminated are Batavia, Bolingbrook, Downers Grove, Geneva, Glen Ellyn, Homer Glen, Lisle, Wheaton, Fox Valley and Lincoln-Way. According to the Sun-Times Media website, these weeklies have a combined circulation of 197,560 copies.

In the last two years, the media group eliminated more than 100 jobs as part of a restructuring process. Furthermore, a group of investors "bought the newspaper assets out of bankruptcy last year for [US]$5 million and the assumption of $22 million in liabilities," ChicagoBusiness.com reminded.

Author

Clara Mart

Date

2010-11-12 16:51

paidContent yesterday published this chart (left, click for larger view), which compares how long seven of the top U.S. publishers have spent in bankruptcy, as well as how their basic financial situations differ.

The publishers include MediaNews, Freedom Communications, Sun-Times, Journal Register, Philadelphia Newspapers, Star Tribune and Tribune.

Author

Leah McBride Mensching

Date

2010-10-19 17:40

Having re-launched 16 of its news websites after overhaul operations recently, The Sun-Times Media group plans to deliver the United States' largest sports monthly magazine, called Athlon Sports, for its readers beginning October 21, Editor & Publisher reported yesterday. Seven million copies of the monthly magazine will be circulated nationwide by the media group's 47 newspapers.

The magazine will appear each month in the Thursday editions of the Chicago Sun-Times, the Southtown Star, the Post-Tribune, the Courier News of Elgin, the Beacon-News of Aurora and the Herald-News of Joliet, the Naperville Sun, the Lake County News-Sun, the Pioneer Press and The Doings Newspapers, NewsandTech.com reported yesterday.

Author

Savita Sauvin

Date

2010-09-28 19:35

The parent company of Chicago Sun-Times, The Sun-Times Media group, has re-launched 16 of its news websites, including five dailies and 11 weeklies in the west region of Chicago suburbs after overhaul, Editor & Publisher reported yesterday.

This re-launch of news sites is a part of the conversion of its papers to the Sun-Times Media Desk platform, for which the company started laying the foundation earlier this year, according to NewsandTech.com. To enable better coordination of operations among its five newsroom divisions and promote content sharing, the media group has deployed ContentPublisher editorial app hosted by Digital Technology International to merge its editorial operations and facilitate multichannel publishing.

"These accomplishments are a significant milestone in our company's plan to convert all of our newsrooms to a modern, Internet-based 'in the cloud' system and relaunch all of our newspaper websites, creating an even greater experience for our readers and advertisers," Sun-Times Media CEO and vice chairman Jeremy L. Halbreich and, President and COO Rick Surkamer said in a memo to staffers, Editor & Publisher reported.

Author

Savita Sauvin

Date

2010-09-24 16:46

Printed newspapers will probably survive a decade before digital news completely substitutes for it, according to James Tyree, chief executive of investment firm Mesirow Financial Inc., who also led the October buyout of the Chicago Sun-Times' publisher, Bloomberg reported.

"Newspapers have got a good strong 10 years. By then you'll have to evolve into something else - maybe five years evolve into something else - or you'll just be out of business," said Tyree in an interview in Chicago last week.

Sun-Times Media Holdings LLC, the company publishes eight dailies in Illinois and Indiana, will need to shift its focus from its printed newspapers to more original online content, such as in-depth sports and regional political coverage, added Tyree. He purchased this company and ended its seven-month bankruptcy, Bloomberg reported.

U.S. publishers have eliminated jobs and sections, and sold assets top compensate declining advertising revenue. According to Newspaper Association of America data, in 2009, print ad sales dropped to their lowest since 1984, while digital advertising also fell 12 percent.

Author

Erina Lin

Date

2010-04-06 19:44

Journal Sentinel Inc. has made a three-year agreement with the Chicago-based Sun-Times Media Group to print 39 weeklies published by STMG-owned Pioneer Press, the Milwaukee Journal Sentinel reported on Monday.

The STMG has said it will close its Northfield printing plant to cuts costs as it makes its way through bankruptcy proceedings, according to a report Tuesday by The Associated Press. The closure is expected to include 70 jobs cuts. The transition to printing at the Journal Sentinel's Burnham St. plant will not affect readers or advertisers, according to the AP.

"Pioneer Press Publications join other newspapers we serve like the Kenosha News, USA Today, La Raza, and the Chicago Reader," said Elizabeth Brenner, president and chief operating officer of Journal Communications' publishing group.

Author

Leah McBride Mensching

Date

2009-09-22 14:35

On Tuesday union members at the Chicago Sun-Times rejected the concessions proposed as part of the potential purchase of the newspapers parent company Sun-Times Media Group by local banker James Tyree, CEO of Mesirow Financial Inc., Editor & Publisher reported Wednesday.

The Chicago Newspapers Guild rejected the concessions with a vote of 83-22. Tyree has said his offer stands until Sept. 29, according to the Sun-Times.

Tom Thibeault, executive director at the guild, said the proposed concessions, "gut our contract and takes away most rights that protects our members."

The motion accompanying the rejection said the Guild is "willing to bargain with the company on provisions that would help the company survive but not willing to give up all the rights of our members."

Hours before the union meeting, Sun-Times Chariman and interim CEO Jeremy Halbreich had appealed to staff, stating:

Author

Leah McBride Mensching

Date

2009-09-16 17:55

A private investor group led by Chicago banker James Tyree has offered a US$25 million bid, $5 million of which is in cash, for Chicago-based newspaper publisher Sun-Times Media Group, The Chicago Sun-Times reported Wednesday.

STMG Holdings LLC is currently under bankruptcy protection after filing for Chapter 11 in March, and the purchase would see the group take on $20 million worth of liabilities.
Tyree, chairman at Mesirow Financial Holdings, has previously said he hopes to retain the Chicago Sun-Times, the company's largest newspaper, and its other papers and their Web sites, according to The Associated Press.

Sun-Times Media Group CEO Jeremy Halbreich says the agreement is a "very positive step."
Before the sale is finalised, it must be approved by the company's unions and a bankruptcy judge.

Author

Leah McBride Mensching

Date

2009-09-09 10:17

Since the end of last year, five major U.S. newspapers have filed for bankruptcy protection, The Associated Press reported.

and the Spanish language free daily Hoy in Chicago, whose sister edition in Los Angeles has just become a weekly. Tribune Co. has an accumulate debt of US$13 billion and had $7.6 billion in assets when it filed chapter 11.


Star Tribune Holdings Corp. also filed for protection at the beginning of the year, partly due to the large amounts of debt accrued from the 2007 acquisition from McClatchy. The Holdings Corp. owns the Star Tribune of Minneapolis.

In February, the Journal Register Co. filed for protection. Journal Register owns several dailies in Connecticut, Pennsylvania, New Jersey, Michigan, and New York. The company counts $692 million in debt and has sold two of its Connecticut dailies and closed a number of weeklies.

Author

Leah McBride Mensching

Date

2009-04-01 11:42

Sun-Times Media Group Inc. today filed for Chapter 11 bankruptcy protection in order to "reestablish itself as a self-sustaining, profitable operation. That is worth fighting for, said Chairman Jeremy Halbreich, the Chicago Sun-Times reported.

The news group, which owns the Chicago paper and other suburban dailies and weeklies, filed for bankruptcy "with the aim of reorganising operations, setting a tax liability and making the company fit for a buyer," the Sun-Times article stated. The company owes the U.S. Internal Revenue Service US$608 million in taxes and penalties incurred by former owner Conrad Black, currently in prison for corporate theft. However, the STMG does not have bank debt.

Halbreich told the Sun-Times he aims to keep "as many jobs as possible," while protecting the company's news operations, in both print and online.

The entire STMG company is worth about $4 million, based on its stock, and as of Nov. 7, the company's assets totalled $479 million, and liabilities were at $801 million, according to the bankruptcy documents.

Author

Leah McBride Mensching

Date

2009-03-31 17:27

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