Media columnist Robert Feder reported that the board of WBEZ’s parent company is expected to discuss the plan in a closed meeting Wednesday night.
The Chicago Sun-Times and the parent company of public radio station WBEZ are exploring the possibility of becoming a “combined entity,” a top executive at the newspaper confirmed Wednesday.
Sun-Times CEO Nykia Wright emphasized in a memo to staff that “we are not close to any deal.”
Still, media columnist Robert Feder reported that the board of Chicago Public Media, WBEZ’s parent company, is expected to discuss the plan in a closed meeting Wednesday night. Feder first broke the news of the potential deal Wednesday morning.
Wright could not immediately be reached for further comment. Nor could Matt Moog, Chicago Public Media’s interim CEO.
The Sun-Times CEO wrote in her memo Wednesday morning that the newspaper’s leadership “is always looking for ways to strengthen and preserve journalism.”
“To that point, we are in talks with Chicago Public Media to determine if there is an opportunity to become a combined entity,” Wright wrote. “It is very important to note that we are not close to any deal. Opportunities like this require a lot of due diligence. We would not be in this position without your hard work over the last four years.”
“Please be assured that the current ownership group is committed to protecting your employment and will continue to invest in the paper with or without any potential future partnership,” Wright added. “As soon as I have more information, I will be sure to update you.”
Feder reported that Moog had also acknowledged the negotiations in a memo of his own.
“I can confirm that we are currently exploring partnerships and opportunities with the Chicago Sun-Times to strengthen local journalism in the city and our region,” Moog wrote, according to Feder. “These conversations are an important part of our commitment to serving Chicago and ensuring local news continues to thrive.”
The newspaper has been publishing under the Sun-Times banner for roughly 74 years. It has been owned since the summer of 2017 by a group of labor unions brought together by businessman and former Ald. Edwin Eisendrath (43rd) to block a bid by the Chicago Tribune’s parent company to take over its competitor.
Eisendrath resigned as Sun-Times Media’s CEO in 2018.
Businessman Michael Sacks and Chicago Blackhawks Chairman Rocky Wirtz became investors in 2019, and Feder reported that Sacks has spearheaded the proposal with Chicago Public Media.
WBEZ’s history dates back to 1943, when it was established as an extension service of the Chicago Board of Education, according to its website. It became one of the first charter member stations of National Public Radio in 1970, and it adopted the name Chicago Public Media in 2010.
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