CHICAGO (AP) – An investor group headed by a former Chicago city council member and labor unions has submitted a bid to buy the Chicago Sun-Times – a move that, if successful, would prevent the paper’s biggest rival from purchasing it.
The bid led by former Alderman Edwin Eisendrath and the Chicago Federation of Labor comes a month after the owner of the Sun-Times, Chicago-based-Wrapports LLC announced it had agreed to enter into discussions with Tronc, which owns the rival Chicago Tribune and several other major newspapers, to acquire the paper.
Eisendrath would not discuss details of the bid to buy Wrapports, but confirmed the investor group has raised about $15 million.
Sun-Times Publisher and Editor in Chief Jim Kirk said the company is evaluating the new bid.
Eisendrath said a major motivation to buy the paper is to make sure his hometown has a paper that tells the stories of working people.