CHICAGO (CBS) – The board of directors of WBEZ owner Chicago Public Media voted on Tuesday to acquire the Chicago Sun-Times.
In a joint statement quoted in a WBEZ report On Tuesday night, Chicago Public Media and the Sun-Times said the deal is expected to close Jan. 31.
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“I am extremely proud of the work the Chicago Sun-Times team has done to make the newspaper an attractive partner for Chicago Public Media,” said Jorge Ramirez, Chairman of the Board of the Chicago-Sun Times under its current ownership. . A press release. “Today’s stage is a testament to their hard work and how far the company has come. We should all be grateful to the paper’s current investors for finding the best way forward from the perspective of all Sun Times voters, including more than 150 reporters and staff who work for the paper and the loyal readers who matter. on the newspaper. for quality news about Chicago and beyond. This innovative merger honors the valuable and important role the newspaper has played and ensures a bright future for the newspaper and all members of the Sun Times team.
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In the statement quoted in the WBEZ report, Chicago Public Media President Matt Moog said, “This is an important step in growing and strengthening local journalism in Chicago. A vibrant local news ecosystem is fundamental to healthy democracy, informed citizens and engaged communities. Together, WBEZ and the Chicago Sun-Times aim to tell the stories that matter, serve more Chicagoans with our unbiased, factual journalism, and connect Chicagoans more deeply to each other and their communities.
WBEZ said the merger would mean the Sun-Times would become a nonprofit subsidiary of Chicago Public Media — as WBEZ already is. The Sun-Times would have its own nonprofit board of directors that would include Moog, and the Sun-Times and WBEZ newsrooms would retain their own editorial independence and maintain their respective newsrooms in the West Loop and on Navy Pier, the station reported.
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The Sun-Times noted that two groups of owners have stepped in to save the once-struggling paper since 2017. That year, a group of local leaders and labor organizations from across the region bought the paper, and two years later, local business leader Michael Sacks and his GCM Grosvenor partners came to provide capital and leadership, the Sun-Times said.