Marshall Field

Chicago Sun-Times is sold to investor group, ending Tronc's bid

Chicago Sun-Times is sold to investor group, ending Tronc's bid

An investor group led by the Chicago Federation of Labor and a former Chicago alderman has bought the Chicago Sun-Times, keeping the city's No. 2 paper in business and ending a bid by Tronc Inc. — which owns the Chicago Tribune and the Los Angeles Times — to acquire the Chicago Tribune’s longtime rival.

Wednesday’s sale of the Sun-Times by its owner, Wrapports, followed two months of negotiations, public pitches for bidders and close guidance from federal antitrust regulators. Sources familiar with the deal put the price tag at $1, or the cost of a single copy of the storied tabloid.

“We’ve closed,” said Edwin Eisendrath, the former alderman. “I’m very grateful to everyone who...

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