|
|
Article: Sale of Beacon-News parent company complete
- Article from:
- The Beacon News - Aurora (IL)
- Article date:
- October 28, 2009
- Author:
CopyrightCopyright, 2009, The Beacon News. All rights reserved. REPRODUCTION PROHIBITED. (Hide copyright information)
|
The sale of the parent company of The Beacon-News was completed on Monday, as a group of investors led by investment banker James Tyree became the newspaper's new owners.
The sale, valued at $26.5 million, includes the Chicago Sun-Times, the company's six other suburban daily newspapers and 51 weekly newspapers, including the Batavia Sun, Geneva Sun and St. Charles Sun. Under a deal approved Oct. 8. in U.S. Bankruptcy Court, Tyree and his partners acquired Sun-Times Media Group Inc. for $5 million cash and the assumption of $21.5 million in liabilities. The Tyree group will control the company through a partnership called Sun-Times Media Holdings LLC. Tyree, chairman of Mesirow Financial, ...