Chicago Sun-Times sale is expected today

The Chicago Sun-Times will announce its sale today to a group of local investors led by Michael Ferro, CEO of tech holding company Merrick Ventures, sources said. Former Newsday CEO Timothy Knight is expected to lead the new holding company. Ferro and co-investor John Canning, chairman of private-equity firm Madison Dearborn Partners, are on the board of nonprofit Chicago News Cooperative, an online venture that also supplies content for locally distributed editions of The New York Times. A report in Crain's Chicago Business pegs the sale price at more than $20 million.

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Chicago Tribune (tiered subscription model) · Crain's Chicago Business