Newspaper Industry Decline, Chicago Sun-times | featured news

The Chicago Sun-Times reported a drop in overall weekday circulation in the past six months -- as the single-copy price jumped from 50 to 75 cents -- but an increase in home-delivery subscriptions.

Chicago Sun-Times newsroom employees represented by the Newspaper Guild voted Tuesday night to accept a temporary 9 percent pay cut and other proposals, as parent Sun-Times Media Group operates under Chapter 11 bankruptcy protection and seeks a buyer.

Chicago financier James Tyree is assembling a group of investors to bid on Sun-Times Media Group Inc.

Mr. Tyree, CEO of Mesirow Financial Inc., told Crain's he has reviewed Sun-Times' books and discussed a possible bid with CEO Jeremy Halbreich and other company executives.

The Sun-Times Media Group, owner of the Chicago Sun-Times and dozens of suburban newspapers, has filed for bankruptcy protection from creditors.