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Wednesday, September 16, 2009

Sun-Times Media Group Hits Pothole on Sale

The employee union for the Chicago Sun-Times has rejected pay cuts and changes to work rules as the Sun-Times Media Group tries to get 18 unions to cooperate on a sale to an investment group.

The plan was to have a bankruptcy auction for the company, but the current CEO says it could mean the end of the company without the changes. The investment group says they are necessary.

Among the changes being sought included a locked 15% pay cut, no more seniority rules and severance guarantees.

The bid for the company was $5 million in cash and assuming $20 million in debt, relying on no other bidders.

Sun-Times owns the Beacon-News.

11 comments:

Anonymous said...

Good riddance to that rag, Salles and the rest of the one sided liberal cast who refused to do investigative reporting on the County Board, Park District, or City.

Anonymous said...

What about the 10 police officers that are going to be layed off or the rotating closings of fire stations each week?

Nothing on Openline or in the Beacon about it.

Why?

Anonymous said...

A requiem for those who though it so important to inflict their liberal agenda on the public. Trouble is the public didn't want to buy it. Good by, good riddance. Im sure the Daily Worker will hire you. Especially Deena BESSY and JEFFY THE SOCIALIST WARD.

Anonymous said...

What? The unions don't want to cooperate in the sale..no problem. Just call your BOY in washington and have him take it over. Than he can turn it over to the unions and the world will be well again. The unions can even probably get a piece of it if they agree to suppport ACORN and the SEIU. Oh thats right I forgot you didn't know about them did you? Hence no reporting on them. Why are you going out of business again?

Anonymous said...

They don't do "investigative" reporting because they cannot afford to. They no longer generate enough income to staff that kind of talent pool. Or to pay them to take the time to ferret out the good stories. You all act like it's some sort of conspiracy. It's economics.

Anonymous said...

It is not economics but rather years and years of stupidly trying to shove information down the readers throat that they didn't want. Period

Anonymous said...

Sorry, you're are so wrong. If people stopped buying the paper because of the content, fine. But that is not what's happening. People get their news on the internet-hence companies won't pay for media that doesn't reach potential customers. Craigslist killed one of the most profitable sections of any paper - the classifieds. Your pathetic whine about "information people don't want" is hillbilly rational. Next up, you'll be whining about the Jews.

Anonymous said...

I haven't comment yet, but agree the content sucks - why I don't buy the paper. The paper forces me to voice my opinion and hear the real story on the internet

Anonymous said...

3:42 Your right I will whine about the Jews. About Osama Obama is trying to undermine them in Isreal every chance he gets all the while touting how wonderful Iran is. Never see the Beacon sticking up for Isreal...too chicken and not politically correct. Hows that for whining about the Jews. Personally I hope they keep building settlements and keep backing up the lazy useless PLO. Even without Osama Obamas help.

Anonymous said...

Yeah, you care so much about Israel that you can't even get the spelling right...

Anonymous said...

Wow ... some real bright minds in this discussion.