Investor wants Sun-Times bidding process reopened
Posted: 10.07.2009 at 11:31 AM
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CHICAGO, ILL. (AP) -- There's no one else interested in buying the Chicago Sun-Times. Or is there?

A Chicago-area investor wants a bankruptcy court to reopen bidding for the parent company of the Chicago Sun-Times.

He claims he was wrongly blocked from trying to fashion a proposal with unions before a Monday deadline.

No new suitors met the deadline.

That left one bid from Chicago investor Jim Tyree, who wants concessions from reluctant unions.

Lisle-based equity manager Thane Ritchie says he tried to develop a bid but was told approaching unions would violate labor law.

Sun-Times Media Group general counsel James McDonough says the company encouraged new bidders and never thwarted anyone.

It hopes a judge can approve the Tyree deal Thursday.

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