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Sun-Times Union, Bidder Still Trying to Negotiate

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The union representing Chicago Sun-Times employees is still hoping to reach an agreement with the Chicago banker who wants to buy the financially strapped newspaper.

Banker James Tyree has offered $25-million for newspaper’s parent company. It includes the Sun-Times and numerous suburban papers. But in exchange for buying the newspaper group, Tyree is asking the union for concessions and a pay cut.

Tom Thibeault is the executive director of the union. He says the paper’s in a crisis situation, but Tyree’s asking for too much.

THIBEAULT: We anticipate having to make some sacrifices and serious sacrifices, but we need to have the ability at the end of the day to protect our members.

Thibeault says most union members seem to think Tyree would be a good fit with the newspaper group, but they overwhelmingly rejected Tyree’s first offer. Thibeault says the union is in talks with Tyree, who set a deadline of September 29. Tyree did not return calls for comment.

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