A local investment group is acquiring the media company that includes the Chicago Sun-Times, taking over from owners who purchased it out of bankruptcy under the direction of the late James Tyree.The buyers include Michael Ferro Jr., chairman of Merrick Ventures LLC, a private equity firm that deals with technology companies. Ferro, who will serve as chairman, is bringing in media executive Timothy Knight to run the company as chief executive and as an investor.
Also among the investors is Bradley Phillip Bell, president of Bell-Phillip Television Productions, which produces THE BOLD AND THE BEAUTIFUL. He is the son of Chicago TV pioneer Lee Phillip Bell who had a long-running talk show on WBBM-TV.
To accomplish the deal, the investors created a new company with the pun-laden name Wrapports LLC. Knight said the name refers to a mix of old media — the “wrapping” of a newspaper — with the rapport promised by new technology. He said the company will buy other ventures or launch its own tech startups.
RELATED:
- FLASHBACK: He's (Bill Bell) Wed to a Celebrity 1958
- WE LOVE SOAPS TV 2.87 THE BOLD AND THE BEAUTIFUL at the Daytime Emmys
No comments:
Post a Comment