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SUN TIMES MEDIA GP Message Board

  • uddi_uddi_javan uddi_uddi_javan Mar 14, 2008 12:28 AM Flag

    SMELL THE NEWS!!!!

    Please read the article below published on Feb04,2008 to recall your memories.Company again says in the earnings report on Mar11,2008 that they are going through a strategic evaluation to enhance shareholders value by possible merger, joint venture or sale. Those who disagree with my readings are not idiots but just want to lower the stock value so those cheap can play for another two days.Key is when you can read what is going on, you cant close others eyes to make some good.


    AP
    Sun-Times to Consider Sale
    Monday February 4, 5:32 pm ET
    Sun-Times Media to Mull Sale As Newspaper Industry Copes With Falling Circulation, Ad Revenue


    CHICACO (AP) -- Sun-Times Media Group Inc., parent company of the Chicago Sun-Times, said Monday it would consider putting itself up for sale.
    The company said in a statement that its board has begun to evaluate "strategic alternatives to enhance shareholder value," including joint ventures, partnerships, or the sale of all or part of the company.

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    Sun-Times said a three-member board committee would oversee the review. That committee is to be led by board member Raymond Seitz and include directors Gordon Paris and Graham Savage.

    In a prepared statement, CEO Cyrus F. Freidheim Jr. said the review "is the right thing to do to ensure the future of the Sun-Times Media Group publications and Web sites and to generate the highest value for our shareholders."

    Like other U.S. daily newspapers, the Sun-Times has been losing advertisers and subscribers in huge numbers to the Internet. The company said last week it would take a pretax fourth-quarter charge of $8 million for severance costs related to previously announced job cuts at its newspapers and other actions.

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