New media insufficient – Sun-Times to be overhauled

Posted by Jean Yves Chainon on November 13, 2006 at 11:49 AM

Sun-Times Media Group Inc. CEO, Gordon Paris, announced serious overhaul of its key newspaper, the Chicago Sun-Times, after the mother company reported a near $35 million third-quarter loss.

The Sun-Times has gradually been weakened by its competitor’s success, the Chicago Tribune, as well as legal struggles, which have cost Sun-Times Media Inc. $136 million in the last three years.
Paris attributed the company’s 14% drop in advertising revenues to the decline of the Sun-Times. According to Chief Financial Officer Gregory Stoklosa, all options are on the table, including a sale of the entire company.
Paris acknowledged the Sun-Times will need more than new-media alternatives and regained advertising revenues. The strategic transformations will target all areas, from content to marketing and branding, including circulation sales and distribution.
The company has much to reconsider if it wishes to save the Sun-Times, the largest remaining asset from former Hollinger Intl. Inc.

Source: Yahoo News

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