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Decision Looming for Chicago Sun-Times
CHICAGO (AP) -- Time's running out on the bankrupt Chicago Sun-Times.

Hometown investor Jim Tyree has offered the more than a dozen newspaper unions a take-it-or-leave-it proposal to buy the Sun-Times Media Group. But several have already said they'll leave it.

Tyree says all the paper's unions must agree to lock in what were originally intended to be temporary wage cuts and other concessions. Otherwise, he says he'll have no choice but to walk away.

The problem is, there are no other bids on the table.

And Sun-Times Media Group executives warn there's only a matter of weeks to accept the deal before it falls through for good.

Group chairman Jeremy Halbreich says the company's financial situation is dire and it doesn't have the cash to hold out until December.

(Copyright 2009 by The Associated Press. All Rights Reserved.)
09 30 09 by Newsroom
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