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Sun-Times Media Group May Go Private

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Jun 17, 2008 11:52 am US/Central

Sun-Times Media Group May Go Private

Company Also Considering Selling One Or More Of Its Assets Also

CHICAGO (AP) ― Sun-Times Media Group is considering going private as well as selling one or more of its businesses.

Chief Executive Cyrus Freidheim told shareholders that both options are under consideration in his remarks to shareholders at the newspaper company's annual meeting Tuesday.

The parent company of the Chicago Sun-Times and smaller area newspapers has been exploring a potential sale and other strategic options as it struggles amid a historic industry slump. Freidheim says the company got several responses from possible buyers last month.

But he gave no sign a decision is imminent on any of the bids and raised the possibility of privatization. He says he remains committed to a "safe landing" for the company's businesses when they are turned over to the next generation of owners.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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