Financier trying to buy Sun-Times Media Group

A Chicago businessman is trying to attract investors in an effort to put together a bid to buy the Sun-Times Media Group, according to Crain's Chicago Business.

Mr. [James] Tyree, CEO of Mesirow Financial Inc., told Crain's he has reviewed Sun-Times' books and discussed a possible bid with CEO Jeremy Halbreich and other company executives. Though his plans are still at a "very early stage," Mr. Tyree says he has talked with several potential co-investors, including a private-equity firm, about forming a group of four to 25 "to keep this great institution in Chicago."

Tyree acknowledged the challenging position facing the industry as a whole, and the Sun-Times Media Group in particular, hinting that he thinks the company needs to become smaller if it hopes to regain profitability.
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