As a separate acquisition, the newly-formed group also purchased Answers Media, a full service digital communications company. The terms of the deals were not disclosed.
"This is a historic coalition of workers and like-minded investors who represent a crosssection of the Chicago population, coming together with one common goal: to preserve independent media entities in Chicago and protect their journalistic integrity. This effort amplifies the diversity of voices and perspectives of Chicago stories both locally and nationally," said CFL President Jorge Ramirez, who will serve as Chairman of the Chicago Sun-Times.
The acquisition group’s intent is to meld these pieces into a powerful, multiplatform news organization, while sustaining the Chicago Sun-Times legacy as a trusted news brand.
“The additional acquisition of Answers Media will allow us to expand and contemporize these channels with high-quality multimedia content and innovative technology solutions that will attract a broad audience of new readers and advertising partners.”
“The primary goal in seeking out new ownership for the Sun-Times and Wrapports LLC’s other properties was to find a buyer who was willing to make the investments necessary to sustain the editorial independence and viability of our publications long into the future,” said Jim Kirk, editor/publisher of the Chicago Sun-Times.
“We look forward to working with the new ownership group to bring new technology and other innovative approaches to support our world-class team of journalists.”
Kirk and other members of the Sun-Times leadership team have been asked to stay on to ensure both quality and continuity of operations.