Investment Group Beats Tronc in Bid to Buy the Chicago Sun-Times
Last week the Chicago Sun-Times reported that an investment group led by former Chicago alderman Edwin Eisendrath has acquired the newspaper and the Chicago Reader. This ends a bid by Tronc, formerly Tribune Publishing, who tried to acquire the Sun-Times’ parent company, Wrapports Holdings in May. Tronc owns Chicago Tribune, the Sun-Times’ long-time rival, creating anti-trust concerns by the Department of Justice that Tronc would own both major newspapers in one of the few cities that still maintains two newspapers.
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