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Sun-Times Media Holdings (formerly Hollinger International) is a Chicago-based newspaper publisher. It is known for its prior association with controversial Canadian businessman Conrad Black.

Contents

History

Sun-Times Media Group was originally founded in 1986 under the name American Publishing Company, as a holding company for Hollinger Inc.'s American properties. It focused on newspapers in smaller markets, mostly in smaller markets. In February 1994, it acquired the Chicago Sun-Times, holding an IPO to fund the acquisition. At the time, it was the fifteenth-largest U.S. newspaper group. It changed its name to Hollinger International in 1994.

Hollinger's non-American properties, which included The Daily Telegraph and The Jerusalem Post were added to the company in 1996, and its Canadian papers in 1997. It created the National Post from the Financial Post in 1998.

That year, it began a process of shrinking the company, selling many of its small papers to the private equity firm Leonard Green & Partners. In 2000, it sold most of the rest to four media companies (Bradford Publications Company, Community Newspaper Holdings, Paxton Media Group, and Forum Communications). It's Canadian holdings, notably the National Post, several smaller papers, and a majority stake in the Southam newspaper chain, were sold to CanWest in 2000 in connection with Conrad Black renouncing his Canadian citizenship to gain a British peerage.

Conrad Black was fired by the Hollinger International board in 2004. He attempted to sell his stake to the Barclay brothers in January 2004 and the brothers launched a takeover bid for the rest of Hollinger International. However the sale was blocked by a judge in the United States after the company's board lodged a court action against the sale.

The Barclay brothers later bought The Telegraph Group which included The Daily Telegraph, The Sunday Telegraph, and The Spectator. On November 16, 2004 the sale of The Jerusalem Post to Mirkaei Tikshoret, a Tel Aviv-based publisher of Israeli newspapers, was announced. CanWest Global Communications, Canada's biggest media concern, announced it has agreed to take a 50 percent stake in The Jerusalem Post after Mirkaei buys the property. In February, 2006, Hollinger sold substantially all of its Canadian assets.[1]

The corporation's name was changed to Sun-Times Media Group on July 17, 2006.[2]

On March 31, 2009, the company filed for bankruptcy protection under Chapter 11 of the United States Code.

In September 2009, Chicago financier James C. Tyree and a team of investors had a $5 million bid accepted to purchase the Sun-Times Media Group, contingent on the paper's unions accepting to deep compensation cuts and work-rule changes. The purchase was completed the next month.

Sun-Times newspapers

Assets now include the Chicago Sun-Times in the United States, and various suburban and neighborhood newspapers in the Chicago area, including the Post-Tribune of Northwest Indiana, the Pioneer Press group, the SouthtownStar, the Beacon News-Sun Publications group in the Aurora-Naperville area, The Herald News (Joliet) and the Lake County News Sun. It also owns the Centerstage Chicago entertainment site and North Shore magazine.

State City Newspaper
Illinois Algonquin Algonquin Countryside
Antioch Antioch Review
Arlington Heights Arlington Heights Post
Barrington Barrington Courier-Review
Batavia The Batavia Sun
Aurora The Beacon News
Bolingbrook The Bolingbrook Sun
Buffalo Grove Buffalo Grove Countryside
Burr Ridge The Weekly Doings
Calumet City Calumet City Star
Cary-Grove Cary-Grove Countryside
Chicago Chicago Sun-Times
Chicago Heights Chicago Heights Star
Chicago Ridge Chicago Ridge Star
Chicago Southland SouthtownStar
Clarendon Hills The Clarendon Hill's Doings
Countryside Lake in the Hills Countryside
Deerfield Deerfield Review
Des Plaines Des Plaines Times
Downers Grove The Downers Grove Sun
Elgin The Courier News
Elk Grove Village Elk Grove Village Times
Elmwood Park Elm Leaves
Elmhurst The Elmhurst Doings
Evanston Evanston Review
Fox Valley The Fox Valley Shopping News
Franklin Park Franklin Park Herald Journal
Geneva The Geneva Sun
Glen Ellyn The Glen Ellyn Sun
Glencoe Glencoe News
Glenview Glenview Announcements
Grayslake Grayslake Review
Gurnee Gurnee Review
Hazel Crest Hazel Crest Country Club Hills Star
Highland Highland Park News
Hinsdale The Doings - Hinsdale
Hoffman Estates Hoffman Estates Review
Joliet The Herald News
La Grange The Doings - La Grange
Lake County The News Sun
Lake Forest Lake Forester
Lake Villa Lake Villa Review
Lake Zurich Lake Zurich Courier
Libertyville Libertyville Review
Lincolnshire Lincolnshire Review
Lincolnwood Lincolnwood Review
Lisle The Lisle Sun
Maywood Maywood Herald
Melrose Park Melrose Park Herald
Morton Grove Morton Grove Champion
Mount Prospect Mount Prospect Times
Mundelein Mundelein Review
Naperville The Naperville Sun
Niles Niles Herald-Spectator
Northbrook Northbrook Star
Northlake Northlake Herald
Oak Brook The Doings - Oak Brook
Oak Park Oak Leaves
Palatine Palatine Countryside
Palos Park Palos Area Star
Park Ridge Park Ridge Herald Advocate
Plainfield The Homer Sun
Plainfield The Lincoln-Way Sun
Plainfield The Plainfield Sun
River Grove River Grove Messenger
River Forest Forest Leaves
Rolling Meadows Rolling Meadows Review
St. Charles The St. Charles Sun
Schaumburg Schaumburg Review
Skokie Skokie Review
Tinley Park Tinley Park Star
Vernon Hills Vernon Hills Review
Wauconda Wauconda Courier
Westchester Westchester Herald
Western Springs The Western Springs Doings
Wheaton The Wheaton Sun
Wheeling Wheeling Countryside
Wilmette Wilmette Life
Winnetka Winnetka Talk
Indiana Merrillville, (Gary) The Post-Tribune

Corporate governance

November 17, 2003

  • Conrad Black resigns as Chairman after an internal inquiry alleges that Black had received more than $7 million in unauthorized payments of company funds.

January 14, 2004

  • Hollinger International files a US$200 million lawsuit against Conrad Black and David Radler.

October 2005

  • Gordon A. Paris, Chairman of the Board of Directors, President, Chief Executive Officer and Director
  • Paul B. Healy, Vice President, Corporate Development and Investor Relations
  • Peter K. Lane, Vice President, Chief Financial Officer
  • Robert T. Smith, Treasurer
  • James R. Van Horn, Vice President, General Counsel and Secretary
  • John Cruickshank, Chief Operating Officer, Head of the Chicago Group
  • Members of the board of directors: Gordon Paris, Richard Burt, Daniel Colson, Cyrus Freidheim, Henry Kissinger, Shmuel Meitar, John O'Brien, Richard Perle, Graham Savage, Raymond Seitz, and James R. Thompson.

November 2006

  • Cyrus Freidheim is hired as President and CEO.

February 2009

  • Cyrus Freidheim resigns as CEO after New York-based hedge fund Davidson Kempner forces the ousting of all but one member of the Board of Directors.
  • Jeremy Halbreich becomes the new chairman and interim chief executive.

See also

References

External links








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