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Group led by former Chicago alderman makes bid for Sun-Times

Posted June 19, 2017 7:00 am

The Associated Press

The building housing the Chicago Sun Times is seen Monday, June 19, 2017, in Chicago. An investor group led by former Alderman Edwin Eisendrath and the Chicago Federation of Labor, an umbrella group of labor unions, submitted a bid to purchase the Chicago Sun-Times on Monday. (AP Photo/G-Jun Yam) The Associated Press

CHICAGO (AP) - A group headed by a former Chicago alderman has submitted a bid to purchase the Chicago Sun-Times.

The investor group led by former Alderman Edwin Eisendrath and the Chicago Federation of Labor, an umbrella group of labor unions, submitted a bid Monday by a 5 p.m. deadline.

Terms of the offer to buy the Sun-Times and Reader from Wrapports LLC were not disclosed. Eisendrath said the effort has raised about $15 million, supported by 10 to 15 unnamed investors.

Eisendrath said the paper would adhere to its tradition as a voice for the working class.

Chicago-based Tronc, which owns the Chicago Tribune, the Los Angeles Times and other major newspapers, announced May 15 it had entered into a nonbinding letter of intent to acquire Wrapports.

The U.S. Justice Department asked Wrapports to extend a deadline to allow bids from other potential buyers.

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