Sun-Times shareholder will nominate two to board, wants board to consider alternatives

By Lisa Kerner

Charlotte, N.C., June 13 - Sun-Times Media Group, Inc. investors led by Hollinger Inc. said they plan to nominate two members to the company's board of directors and raised concerns about Sun-Times' recently announced business plan.

Hollinger also urged the board to begin a formal process to consider strategic alternatives to maximize shareholder value. The investor made the request in a June 11 letter to the board included in a schedule 13D filing with the Securities and Exchange Commission.

"We are committed to working with the special committee and the entire board of directors to ensure that there are no conflicts with our nominees. It is important to point out that, as the company's largest shareholder, our interests are aligned with those of all of the stockholders of Sun-Times Media Group," the letter stated.

Hollinger beneficially owns 15,772,923 shares, or 19.7%, of the Chicago-based newspaper company's outstanding stock.

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