Chairman of Sun-Times parent company: ‘Not buying the Tribune’

May 24, 2012

Jewell Washington

The chairman of the Chicago Sun-Times parent company said Thursday he is not buying the Chicago Tribune.

The Tribune Company continues to go through bankruptcy proceedings.

Michael Ferro, chairman of Wrapports, LLC said the company’s goals include making the Sun-Times more ‘credible, colorful, and charitable.’

Ferro said that includes continuing investigative reporting, improving its digital tablet applications, and linking with the Chicago Community Trust.

“We want to become the number one local newspaper in the U.S. It’s not buying the Tribune by the way …. We’re doing without touching the Tribune,” he said.

The Sun-Times leads in average daily circulation over the Tribune while trailing in Sunday circulation, according to the Audit Bureau of Circulations.

Ferro said his goals include obtaining 100,000 new Sunday subscribers.

Meantime, the Sun-Times announced that it purchased the Chicago Reader earlier this week.