Chicago Sun-Times Puts up For Sale Sign

07 February 2008

CHICAGO: The Sun-Times Media Group, once known as Hollinger International and publisher of the eponymous Chicago Sun-Times daily newspaper among others, is mulling the sale of all its assets in the face of an advertising revenue and circulation downturn.

The struggling firm, which rebranded after a fraud scandal involving erstwhile ceo Conrad Black, said in December it would cut $50 million (€34m; £25.5m) in costs by June.

The company reported an operating loss of $98.2m for the first nine months of 2007. Advertising sales fell 10% during that same period to $214.9m. 

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