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An investment group led by former Chicago Ald. Edwin Eisendrath has submitted a bid against Chicago Tribune parent company Tronc Inc. to buy the Chicago Sun-Times and weekly Chicago Reader.
“We have received a bid from a group led by Edwin Eisendrath and we are currently evaluating the proposal,” Sun-Times Publisher and Editor In Chief Jim Kirk said in an email.
The group, which includes several labor organizations and about a dozen other investors, made a bid of $15 million to buy the Sun-Times and Reader from Wrapports LLC, media critic Robert Feder reported.
The “minimum capitalization” for bidders was $11.2 million, Feder reported.