April 28, 2016
Chicago Sun-Times parent sells portfolio of suburban publications to Tribune
Bulkley Capital served as exclusive financial advisor to Wrapports LLC (Chicago, Illinois), a media and technology platform whose holdings include the Chicago Sun-Times newspaper, in the sale of 38 media titles to Tribune Publishing Company (NYSE: TPUB).
Bulkley Capital assisted Wrapports’ high profile investor base in evaluating their options as they sought to ensure the financial viability of the Chicago Sun-Times. What resulted was a decision to seek buyers for the group’s suburban print properties, to allow for a greater focus on the downtown daily paper and provide capital for growth.
Through a confidential and targeted marketing effort, including strategic, financial and individual suitors, Bulkley Capital helped Wrapports complete the sale of six daily and thirty-two weekly newspapers to The Chicago Tribune and at the same time restructure the ongoing print and distribution contract between the two parties, resulting in a greater than 20% reduction in costs for the Chicago Sun-Times.