By John Dempsey, WLS-AM News
(CHICAGO) A former Chicago Alderman says he has put together an investor group to try and buy the Chicago Sun Times. Former 43rd Ward Alderman Edwin Eisendrath says he and a consortium of labor unions have raised over $11.2 million to purchase Sun Times owner Wrapports LLC.
The U.S. Department of Justice had set a Monday deadline for investors to prove they had adequate funding to buy the paper. The other bidder is Tronc, the owner of the rival Chicago Tribune. Eisendrath and his union partners say if Tronc were to own the Sun Times it would remove a vital independent voice in Chicago journalism.
The Justice Department’s Antitrust Division is involved in the sale because of its opposition to a single entity controlling multiple media operations in the same market.
Both Tronc and Wrapports have said the Tribune and Sun-Times would operate as separate, independent voices if Tronc acquires Wrapports.
@ 2017 WLS-AM News
