CHICAGO, Sept. 29 (UPI) -- The executive director of the Chicago Newspaper Guild said a second prospective buyer had shown interest in buying the hobbled Chicago Sun-Times Media.
"Will he put in a bid? I don't know," the guild's Tom Thibeault said.
But Thibeault said a potential buyer connected to the financial community had inquired about union issues with an eye towards a possible purchase.
Union members voted recently to reject a $25 million offer from investors led by Chicago businessman Jim Tyree.
That offer was contingent on union members accepting pay and benefit cuts.
Sun-Times Media spokeswoman Tammy Chase said, "we're certainly willing to talk to any prospective buyer."
But the company, hurt by the recession and a migration of advertisers from print media to the Internet, was running through cash quickly.
The choices boiled down to "Tyree or doom," Chicago restructuring expert William Brandt said. "And it may be Tyree and doom. But it's a shot at a second chance, which not many metropolitan dailies get."
