Sun-Times judge approves adviser fees

WILMINGTON, Del. -- A Delaware bankruptcy judge has approved fee changes for a firm serving as financial adviser and investment banker to the Sun-Times Media Group.

One of the changes approved Monday involves the Sun-Times request to pay Rothschild Inc. a transaction fee of $2.5 million in the event of a sale or merger. Following informal objections by its creditors committee and the U.S. trustee, the Sun-Times agreed that Rothschild will be paid a transaction fee of $1.25 million, plus 4 percent of the aggregate consideration exceeding $25 million.

The company also deleted a provision allowing it to pay Rothschild an additional fee at its discretion, and said monthly fees exceeding a total of $600,000 will be credited against the transaction fee.