The Sun-Times has agreed with the Justice Department to extend the deadline for potential buyers of the newspaper company.
An undisclosed number of bidders have until the end of the business day on Monday, June 19, to finalize their offers, including supporting financial documentation and an operating plan for the longtime No. 2 Chicago newspaper, said Sun-Times Editor and Publisher Jim Kirk.
“With continued interest in the Sun-Times, we are working through the due diligence phase of the process with interested parties,” Kirk said in an employee email Monday afternoon. “That work will continue through this week.”
Wrapports, the owner of the Chicago Sun-Times, received communications from “multiple entities” before a June 5 deadline but stopped short of calling them legitimate bids to buy the newspaper.
The company has been working with the Antitrust Division of the Justice Department as to how it should proceed with the interested parties as well as a previously submitted offer from Chicago Tribune parent company Tronc.
Chicago-based Tronc, which owns the Tribune, the Los Angeles Times and seven other major newspapers, announced May 15 it had entered into a nonbinding letter of intent to acquire Wrapports — whose properties include the Sun-Times and the Chicago Reader — for an undisclosed price.
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