Sun-Times Media Group to consider strategic alternatives

By Lisa Kerner

Charlotte, N.C., Feb. 4 - Sun-Times Media Group, Inc.'s board of directors began an evaluation of strategic alternatives to enhance shareholder value.

The alternatives may include joint ventures or a sale of the company, according to a company news release.

A committee of the board will oversee the process. Committee members include Gordon Paris, Graham Savage and Raymond Seitz, who will be the committee chairman.

Sun-Times said there can be no assurance that the evaluation process will result in any specific transactions.

"Our board's decision to explore strategic next steps now is the right thing to do to ensure the future of the Sun-Times Media Group publications and Web sites and to generate the highest value for our shareholders," Sun-Times Media Group chief executive officer Cyrus F. Freidheim said in the release.

Sun-Times is a Chicago-based newspaper company.

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