A local investment group is acquiring the media company that includes the Chicago Sun-Times, taking over from owners who purchased it out of bankruptcy under the direction of the late James Tyree.
The buyers include Michael Ferro Jr., chairman of Merrick Ventures LLC, a private equity firm that deals with technology companies. Ferro, who will serve as chairman, is bringing in media executive Timothy Knight to run the company as chief executive and as an investor.
Knight is a former publisher of Newsday, the newspaper that serves Long Island. Jeremy Halbreich, who was part of the Sun-Times investment group and was the company’s chairman and chief executive, is stepping down.