K Capital Management supports election of new members to board of Sun-Times

By Lisa Kerner

Charlotte, N.C., Nov. 11 - Sun-Times Media Group, Inc. investors led by K Capital Management, LLC support the recommendation of fellow shareholder Davidson Kempner Capital Management to elect new members to the company's board of directors.

K Capital affiliate Abner Kurtin offered to discuss the proposal with Sun-Times. Kurtin made the offer in a Nov. 10 letter to the company that was included in a schedule 13D/A filed with the Securities and Exchange Commission.

The investors said they are considering various strategies to increase the value of their investment in Sun-Times, including proposals to effect some corporate governance changes, a merger or sale of the company or a going-private transaction, the filing said.

It was reported on Oct. 31 that Davidson Kempner Partners recommended a change of leadership at the company, both at the chief executive officer and board level.

Davidson Kempner believes the company's entire board should be resized to five directors and reconstituted with the exception of Robert Poile, a large Sun-Times shareholder.

In addition, Davidson Kempner is nominating four persons for election to the Sun-Times board.

Davidson Kempner beneficially owns 8,621,312, or 10.49%, of the Chicago-based newspaper company.

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