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((Short description|Chicago-based newspaper publisher))
((Multiple issues|
((refimprove|date=May 2021))
((Update|inaccurate=yes|date=January 2023))
))
((Use mdy dates|date=March 2012))
((About|the company established in 1986|the 19th-century "American Publishing Company"|Mark Twain))

'''Sun-Times Media Group''' (formerly '''Hollinger International''') is a [[Chicago]]-based newspaper [[Publishing|publisher]].

==History==
Sun-Times Media Group was founded in 1986 under the name ''American Publishing Company'', as a holding company for [[Hollinger Inc.]]'s American properties. It focused on newspapers, mostly in smaller markets. In February 1994, it acquired the ''[[Chicago Sun-Times]]'', holding an [[initial public offering]] (IPO) to fund the acquisition. At the time, it was the fifteenth-largest U.S. newspaper group. It changed its name to ''Hollinger International'' in 1994.

Hollinger's non-American properties, which included ''[[The Daily Telegraph]]'' and ''[[The Jerusalem Post]]'', were added to the company in 1996, and its Canadian papers in 1997. It created the ''[[National Post]]'' from the ''[[Financial Post]]'' in 1998.

That year, it began a process of shrinking the company, selling many of its small papers to the private equity firm [[Leonard Green & Partners]], who formed [[GateHouse Media|Liberty Group Publishing]]. In 2000, it sold most of the rest to four media companies ([[Olean Times Herald|Bradford Publications Company]], [[Community Newspaper Holdings]], [[Paxton Media Group]], and [[Forum Communications]]).<ref>((cite news| url=http://articles.chicagotribune.com/2000-08-04/business/0008040350_1_hollinger-international-conrad-black-paxton-media-group| title=Hollinger's Crash Diet Stops Short Of Chicago| newspaper=[[Chicago Tribune]]|  first=Tim| last=Jones| date=August 4, 2000| access-date=February 21, 2021))</ref> Its Canadian holdings, notably the ''[[National Post]]'', [[American Trucker Magazine|several smaller papers]], and a majority stake in the [[Southam Inc.|Southam]] newspaper chain, were sold to [[CanWest]] in 2000 in connection with [[Conrad Black]] renouncing his Canadian citizenship to gain a British peerage. That year, Hollinger International bought the Chicago-area publications of [[Copley Press]] (''[[The Herald News (Joliet)|The Herald News]]'', ''[[The Beacon-News]]'', ''The Courier-News'', and ''[[Lake County News-Sun]]'', along with several smaller papers).

Conrad Black was fired by the Hollinger International board in 2004 for fraud.<ref name=BeasleyEtAl>((cite book |first1=Mark S. |last1=Beasley |author2=Frank A. Buckless |author2-link=Frank A Buckless |author3=Steven M. Glover |author4=Douglas F. Prawitt |year=2015 |title=Auditing Cases: Instructor Resource Manual |edition=6th |location=[[Upper Saddle River, New Jersey|Upper Saddle River, NJ]] |publisher=Pearson |url=https://www.pearson.com/us/higher-education/product/Beasley-Instructor-s-Solutions-Manual-Download-only-for-Auditing-Cases-An-Interactive-Learning-Approach-7th-Edition/9780134422701.html |access-date=2021-02-21 |url-status=dead |archive-url=https://web.archive.org/web/20161010233832/http://mfile.narotama.ac.id/files/Accounting%20%26%20Financial/Auditing%20Cases%3B%20Instructor%20Resource%20Manual%20%284th%20Edition%29/Section%203%20%20Professional%20And%20Ethical%20Issues.pdf |archive-date=October 10, 2016 |df=mdy-all |isbn=978-0134422701))</ref> He attempted to sell his stake to the [[Barclay brothers]] in January 2004 and the brothers launched a [[takeover]] bid for the rest of Hollinger International. However the sale was blocked by a judge in the United States after the company's board lodged a court action against the sale.

The Barclay brothers later bought The [[Telegraph Group]] which included ''[[The Daily Telegraph]]'', ''[[The Sunday Telegraph]]'', and ''[[The Spectator]]''. On November 16, 2004, the sale of ''[[The Jerusalem Post]]'' to Mirkaei Tikshoret, a Tel Aviv–based publisher of Israeli newspapers, was announced. [[CanWest Global Communications]], Canada's biggest media concern, announced it has agreed to take a 50 percent stake in ''The Jerusalem Post'' after Mirkaei buys the property. In February 2006, Hollinger sold substantially all of its Canadian assets.<ref>((cite press release| url=http://www.thesuntimesgroup.com/release.asp?articleid=301| title=Hollinger International Completes Sale of Substantially All of Its Canadian Assets| date=February 6, 2006| publisher=Sun-Times Media Group| access-date=February 21, 2021| url-status=dead| archive-url=https://web.archive.org/web/20080312145441/http://www.thesuntimesgroup.com/release.asp?articleid=301| archive-date=March 12, 2008| df=mdy-all))</ref>

The corporation's name was changed to Sun-Times Media Group on July 17, 2006.<ref>((cite press release| date=July 17, 2006|  url=http://www.thesuntimesgroup.com/release.asp?articleid=317| title=Hollinger International Today Becomes Sun-Times Media Group| publisher=Sun-Times Media Group| access-date=February 21, 2021| url-status=dead| archive-url=https://web.archive.org/web/20080312145005/http://www.thesuntimesgroup.com/release.asp?articleid=317| archive-date=March 12, 2008| df=mdy-all))</ref>

On March 31, 2009, the company filed for bankruptcy protection under [[Chapter 11]] of the [[United States Code]].

In September 2009, Chicago financier [[James C. Tyree]] and a team of investors had a $5 million bid accepted to purchase the Sun-Times Media Group, contingent on the paper's unions accepting deep compensation cuts and work-rule changes.  The purchase was completed the next month.

Tyree died suddenly in March 2011. Jeremy Halbreich, chief executive, said that Tyree will be greatly missed and that his death will make no changes in the media company's strategy.<ref>((cite news| url=http://beaconnews.suntimes.com/business/4366285-420/tyrees-vision-will-be-missed-but-newspaper-will-follow-course.html |title=Tyree's vision will be missed, but newspaper will follow course |first=David |last=Roeder |date=March 20, 2011 |newspaper=[[Chicago Sun-Times]] |archive-url=https://web.archive.org/web/20110321004330/http://beaconnews.suntimes.com/business/4366285-420/tyrees-vision-will-be-missed-but-newspaper-will-follow-course.html |archive-date=March 21, 2011))</ref>

Since the Tyree-Halbreich takeover, the organization has shown accelerating declines in circulation, advertising revenue and quality of editorial content. Industry analysts have repeatedly pointed to the group's failure to craft a competitive online product as evidence of continued decline. On December 6, 2011, the company announced it will institute a [[paywall]] to access its online content from December 8, 2011.

Later in December 2011, Chicago investment group [[Wrapports]], [[Limited Liability Company|L.L.C.]], led by Chairman [[Michael Ferro|Michael W. Ferro Jr.]] & CEO Timothy Knight, bought the properties of Sun-Times Media Holdings.<ref>((cite news |first1=Robert |last1=Channick |author2=Michael Oneal |author3=Becky Yerak |title=Sun-Times sold to local investor group |url=https://www.chicagotribune.com/business/ct-xpm-2011-12-22-ct-biz-1222-sun-times-20111222-story.html |newspaper=[[Chicago Tribune]] |access-date=November 21, 2020))</ref>

==Corporate governance==
;November 17, 2003
* [[Conrad Black]] resigns as chairman after an internal inquiry alleges that Black had received more than $7 million in unauthorized payments of company funds.

;January 14, 2004
* Hollinger International files a ((USD|200)) million lawsuit against Conrad Black and [[David Radler]].

;October 2005
*Gordon A. Paris, chairman of the board of directors, president, chief executive officer and director
*Paul B. Healy, vice president, corporate development and investor relations
*Peter K. Lane, vice president, chief financial officer
*[[Robert T. Smith]], treasurer
*James R. Van Horn, vice president, general counsel and secretary
*John Cruickshank, chief operating officer, head of the Chicago group
* Members of the board of directors: Gordon Paris, [[Richard Burt]], Daniel Colson, Cyrus Freidheim, [[Henry Kissinger]], Shmuel Meitar, [[John O'Brien (businessman)|John O'Brien]], [[Richard Perle]], [[Graham Savage]], [[Raymond G. H. Seitz]], and [[James R. Thompson]].

;November 2006
* Cyrus Freidheim is hired as president and CEO.

;February 2009
* Cyrus Freidheim resigns as CEO after New York–based hedge fund [[Davidson Kempner]] forces the ousting of all but one member of the board of directors.
* Jeremy Halbreich becomes the new chairman and interim chief executive.

==See also==
*[[Lerner Newspapers]]

==References==
((Reflist))

==External links==
* [https://web.archive.org/web/20120626133436/http://www.suntimesmediaholdings.com/ Sun-Times Media Group] official site
* [http://www.pioneerlocal.com/ Pioneer Press], local newspapers' site (part of ''Chicago Tribune'')
* [https://web.archive.org/web/20040917080559/http://www.ketupa.net/black.htm Ketupa.net – Media Profiles: Hollinger, Black & the Barclays] Extensive background information, including past and present media holdings. 
* [https://www.sec.gov/Archives/edgar/data/868512/000095012304010413/y01437exv99w2.htm  U.S. SEC – Breeden Report] Complete 512-page copy of the Report of Investigation by the Special Committee of the Board of Directors of Hollinger International Inc.
* [http://www.fundinguniverse.com/company-histories/Hollinger-International-Inc-Company-History.html A Hollinger company history]

((2008 economic crisis))

[[Category:Newspaper companies in Chicago]]
[[Category:Publishing companies established in 1986]]
[[Category:1986 establishments in Illinois]]
[[Category:Chicago Sun-Times]]
[[Category:Companies that filed for Chapter 11 bankruptcy in 2009]]

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