New Owners Of Chicago Sun-Times Discuss Newpaper's Plans For The Future
CHICAGO (CBS) – Instead of just printing the headlines, on Thursday the Chicago Sun-Times is making them.
We are hearing plans for the future from the new owners of the Chicago Sun-Times, one of whom is a former North side alderman.
Contractually, new Sun-Times CEO Edwin Eisendrath cannot talk about the deal to buy the paper and other properties from Wrapports LLC, but the former alderman said the new owners including journalists, unions, financial people and others will be a subscription base and keep the Sun-Times vital.
"We're going to run this like a business. We have to. But you can run a business in partnership with the people who work in the business. And anyone who thinks otherwise is not running a very good business," Eisendrath said.
Chicago Federation of Labor President Jorge Ramirez is the new Sun-Times chairman, but he is assuring the paper's staff and everyone else labor will not influence stories or editorials.
"We told them that our interest is to not get involved in the editorial content of it, nor the news reporting content of it. And we intend to maintain that," Ramirez said.
Eisendrath said the group of labor, business and civic leaders has also purchased Answers Media, a digital communications company to strengthen the Sun-Times as a multi-platform news organization.
"We have these capabilities, we are going to see some really interesting things building – digital ad revenue – and as we do this, we will take this paper and make it a financial success, as well as one that speaks to everyday people in Chicago," Eisendrath said.
The Chicago Reader and the Straight Dope website are also part of this deal.
Therefore, to cut costs the paper's staff will move from their River North offices to a space in the Fulton Market, where the high tech content provider Answers Media is located.
Financial terms of the deal are not being disclosed. So how will the Chicago Sun-Times make money, why is it a good investment? Eisendrath said they expect the paper to grow its online, digital, and video footprint.