Feder: Ex-alderman, suburban financier bidding for Sun-Times?

Hoping to thwart Chicago Tribune owner tronc, a former Chicago alderman and a suburban hedge fund manager are expected to step up with competing bids for the Chicago Sun-Times and the Chicago Reader, according to multiple sources.

Monday is the last day prospective bidders may provide an initial offer, according to an agreement between the U.S. Department of Justice Antitrust Division and Wrapports Holdings LLC, parent company of the two publications. If an acceptable offer is not received by 5 p.m., the daily Sun-Times and the weekly Reader are on track to be sold to tronc, which signed a letter of intent last month.

Read the full column at robertfeder.com.