The Chicago Public Media board voted Tuesday evening to move forward with its acquisition of the Chicago Sun-Times, combining the long-struggling daily newspaper with resurgent public radio station WBEZ-FM 91.5 as one nonprofit multimedia newsroom.
Chicago Sun-Times signs are put up during a news conference July 13, 2017, at Answers Media offices in Chicago., when Chicago Public Media and the Sun-Times signed a nonbinding letter of intent. The radio and newspaper would operate separately under the Chicago Public Media banner, while sharing content and resources across multiple platforms.
The combined entities will have nearly 300 employees, with no plans for staff reductions post-merger, Betsy Berger, a Chicago Public Media spokeswoman, said Tuesday. [Most read] Family focuses on Les Grobstein’s life and fans as listeners donate to help with radio personality’s funeralThe pending merger comes as traditional news media struggle to navigate the digital age, and the Chicago market is roiled by ownership changes, downsizing and declining revenue. Moving the Sun-Times to a nonprofit model follows the path of the Salt Lake Tribune, the first major daily newspaper to make the transition in 2019.
In 2009, a group led by former Mesirow CEO Jim Tyree rescued the Sun-Times from bankruptcy, paying $5 million in cash and taking on $20 million in liabilities.
I’m happy
Wow, a government run paper. Not even hiding it anymore. They will be further left than the Trib!
Sad for all the chumps still at the Trib.
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