CHICAGO — The owners of the Chicago Sun-Times have agreed to extend the deadline to receive offers from potential buyers of the newspaper.
The Chicago Tribune reports Sun-Times editor and publisher Jim Kirk says bidders have until the end of the business day on Monday, June 19, to finalize their offers. The unidentified bidders have to include supporting financial documentation and an operating plan for the Chicago newspaper.
Chicago-based Wrapports LLC has said it received communications from “multiple entities” before a June 5 deadline, but stopped short of calling them legitimate bids to buy the newspaper.
Chicago-based Tronc, which owns the Chicago Tribune, the Los Angeles Times and other major newspapers, announced May 15 it had entered into a nonbinding letter of intent to acquire Wrapports.
The U.S. Justice Department asked Wrapports to extend a deadline to allow bids from other potential buyers.