Justice Department Announces Investigation of Possible Acquisition of Chicago Sun-Times by Owner of Chicago Tribune
Wrapports LLC is Conducting a Public Sale of the Chicago Sun-Times
The Antitrust Division of the Department of Justice announced today that it is conducting an investigation into the possible acquisition of the Chicago Sun-Times by tronc, Inc., the owner of the Chicago Tribune.
The owner of the Chicago Sun-Times, Wrapports LLC, disclosed today that (i) the Chicago Sun-Times is seeking a buyer that will continue to publish the newspaper; (ii) if no other viable buyer expressing substantial interest in purchasing the Chicago Sun-Times comes forward within 15 calendar days of publication in the Chicago Sun-Times of an advertisement inviting expressions of interest, the Chicago Sun-Times will be sold to tronc, Inc.; and (iii) within the 15 calendar day period, prospective buyers must begin due diligence and indicate an expression of interest, including a price range for the Chicago Sun-Times, and demonstrate the financial ability to operate the paper. If another viable buyer comes forward within 15 calendar days, then the interested buyer will be provided a reasonable opportunity to conduct additional due diligence and negotiate the purchase of the Chicago Sun-Times.
The Antitrust Division is the agency responsible for investigating mergers involving newspapers. The Antitrust Division will closely monitor the sale process for the Chicago Sun-Times, including whether any other viable buyer expresses interest. In addition to contacting Wrapports, interested prospective buyers are invited to contact as soon as possible the Litigation III Section of the Antitrust Division directly at (202) 305-8376.
tronc is a Delaware corporation headquartered in Chicago. It publishes major daily newspapers across California, Illinois, Florida, Maryland, Connecticut, Virginia and Pennsylvania. Wrapports is a privately-held corporation based in Chicago.