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Sun-Times Media Group (formerly Hollinger International) is a Chicago-based newspaper publisher.
Sun-Times Media Group was founded in 1986 under the name American Publishing Company, as a holding company for Hollinger Inc.'s American properties. It focused on newspapers, mostly in smaller markets. In February 1994, it acquired the Chicago Sun-Times , holding an initial public offering (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, who formed Liberty Group Publishing. In 2000, it sold most of the rest to four media companies (Bradford Publications Company, Community Newspaper Holdings, Paxton Media Group, and Forum Communications). [1] Its 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. That year, Hollinger International bought the Chicago-area publications of Copley Press ( The Herald News , The Beacon-News , The Courier-News, and Lake County News-Sun , along with several smaller papers).
Conrad Black was fired by the Hollinger International board in 2004 for fraud. [2] 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. [3]
The corporation's name was changed to Sun-Times Media Group on July 17, 2006. [4]
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 deep compensation cuts and work-rule changes. The purchase was completed the next month.
Tyree died suddenly in March 2011. Jeremy Halbreich, chief executive, said that Tyree will be greatly missed and that his death will make no changes in the media company's strategy. [5]
Since the Tyree-Halbreich takeover, the organization has shown accelerating declines in circulation, advertising revenue and quality of editorial content. Industry analysts have repeatedly pointed to the group's failure to craft a competitive online product as evidence of continued decline. On December 6, 2011, the company announced it will institute a paywall to access its online content from December 8, 2011.
Later in December 2011, Chicago investment group Wrapports, L.L.C., led by Chairman Michael W. Ferro Jr. & CEO Timothy Knight, bought the properties of Sun-Times Media Holdings. [6]
The original incarnation of News Corporation was an American multinational mass media corporation controlled by media mogul Rupert Murdoch and headquartered at 1211 Avenue of the Americas in New York City. Prior to its split in 2013, it was the world's largest media company in terms of total assets and the world's fourth largest media group in terms of revenue, and News Corporation had become a media powerhouse since its inception, dominating the news, television, film, and print industries.
Conrad Moffat Black, Baron Black of Crossharbour, is a Canadian and British former newspaper publisher, businessman, and writer.
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The National Post is a Canadian English-language broadsheet newspaper available in several cities in central and western Canada. The paper is the flagship publication of Postmedia Network and is published Mondays through Saturdays, with Monday released as a digital e-edition only. The newspaper is distributed in the provinces of Ontario, Quebec, Alberta and British Columbia. Weekend editions of the newspaper are also distributed in Manitoba and Saskatchewan.
The Chicago Sun-Times is a daily nonprofit newspaper published in Chicago, Illinois, United States. Since 2022, it is the flagship paper of Chicago Public Media, and has the second largest circulation among Chicago newspapers, after the Chicago Tribune. The modern paper grew out of the 1948 merger of the Chicago Sun and the Chicago Daily Times. Journalists at the paper have received eight Pulitzer Prizes, mostly in the 1970s; one recipient was film critic Roger Ebert (1975), who worked at the paper from 1967 until his death in 2013. Long owned by the Marshall Field family, since the 1980s ownership of the paper has changed hands numerous times, including twice in the late 2010s.
Sir David Rowat Barclay and Sir Frederick Hugh Barclay, commonly referred to as the "Barclay Brothers" or "Barclay Twins", were British billionaires. They were identical twin brothers and, until the death of David in 2021, had joint business interests primarily in media, retail and property.
Hollinger Inc. was a Canadian media company based in Toronto which was established by businessman Conrad Black. At one time, the company was the third-largest media empire in the world. The company went bankrupt in 2007.
Canwest Global Communications Corporation, which operated under the corporate name Canwest, was a major Canadian media conglomerate based in Winnipeg, Manitoba, with its head offices at Canwest Place. It held radio, television broadcasting, and publishing assets in several countries, primarily in Canada.
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F. David Radler is a Canadian executive active in finance and news media. Radler was once president of Ravelston Corporation, a privately owned corporation owned by Conrad Black and Radler to control their former newspaper empire. Ravelston owned Argus Corporation which in turn controlled Chicago-based Hollinger International. In 2005, 14.1% of Ravelston was owned by Radler.
Ravelston Corporation Limited was a Canadian holding company that was largely controlled by Conrad Black and business partner David Radler. At one time, it held a majority stake in Hollinger Inc., once one of the largest media corporations in the world. The company was placed into receivership in 2005 and went bankrupt in 2008.
The Barrie Examiner was a daily newspaper published in Barrie, Ontario from 1864 to 2017.
Fairfax Media was a media company in Australia and New Zealand, with investments in newspaper, magazines, radio and digital properties. The company was founded by John Fairfax as John Fairfax and Sons, who purchased The Sydney Morning Herald in 1841. The Fairfax family retained control of the business until late in the 20th century.
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The Daily Telegraph, known online and elsewhere as The Telegraph, is a conservative national British daily broadsheet newspaper published in London by Telegraph Media Group and distributed in the United Kingdom and internationally. It was founded by Arthur B. Sleigh in 1855 as The Daily Telegraph & Courier. Considered a newspaper of record, The Telegraph has been described as being "one of the world's great titles". The paper's motto, "Was, is, and will be", was included in its emblem which was used for over a century starting in 1858.
Black v. United States, 561 U.S. 465 (2010), is a white-collar criminal law case decided by the United States Supreme Court dealing with businessman Conrad Black's fraud trial. Along with two companion cases—Skilling v. United States and Weyhrauch v. United States—it dealt with the honest services provision, 18 U.S.C. § 1346.
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Wrapports LLC was the American-based privately owned publisher of the Chicago Sun-Times and the Chicago Reader. It was headquartered in the Sun-Times building in Chicago.
