Valuing the Sun Times: A Comparison
Just five years ago, what is now known as the Sun-Times Media Group fetched an offer of $900 million. Today Chicago businessman Jim Tyree is in line to buy the STMG for $26 million. Frankly, that’s kind of pathetic. For comparison’s sake:
* Amount Tribune Co. wants to pay top executives bonuses: $66 million.
* Amount the city is giving to United Airlines to move into Willis Tower: $50 million.
* Amount the Cubs signed Milton Bradley to a three-year contract for: $30 million.
* Amount Chicago 2016 raised: $72 million.
* Amount Creative Loafing paid for the Reader and the Washington City Paper in 2007: $30 million. (Hedge fund Atalaya acquired Creative Loafing in turn for $5 million earlier this year.)
* Amount Tribune Company paid for Chicago magazine in 2002: $35 million.
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