{"id":1764,"date":"2013-12-23T11:00:21","date_gmt":"2013-12-23T17:00:21","guid":{"rendered":"http:\/\/www.robertfeder.com\/?p=1764"},"modified":"2013-12-23T12:04:42","modified_gmt":"2013-12-23T18:04:42","slug":"sun-times-sells-joliet-herald-news","status":"publish","type":"post","link":"https:\/\/robertfeder.dailyherald.com\/2013\/12\/23\/sun-times-sells-joliet-herald-news\/","title":{"rendered":"Sun-Times sells Joliet Herald-News"},"content":{"rendered":"

\"Herald<\/a><\/a>The parent company of the Sun-Times announced the sale Monday of the Joliet Herald-News to Shaw Media for an undisclosed price. The deal is expected to close by the first week in January.<\/p>\n

\u201cWe are excited to bring the Herald-News into our established, and growing, family-owned media portfolio,\u201d Shaw Media president John Rung said in a statement. \u201cWe expect to maintain the storied tradition of serving Joliet with a high quality, community-oriented newspaper.\u201d<\/p>\n

A fixture in the southwest suburbs for 100 years, the Herald-News was acquired in 2000 when former owner Copley Press sold its Fox Valley Press division to Hollinger International, then parent company of the Sun-Times. No word yet on how many employees will be affected by the sale.<\/p>\n

Plans by Sun-Times Media to sell the 25,000-circulation southwest suburban daily were\u00a0first reported here<\/a>\u00a0on Nov. 11.<\/p>\n

\"Timothy<\/a>

Timothy Knight<\/p><\/div>\n

\u201cWe have found a great buyer for the Herald-News in Shaw Media,\u201d said Timothy Knight, CEO of Sun-Times Media owner Wrapports LLC. \u201cThis sale will allow the Sun-Times to focus its resources on transforming its core products.\u201d<\/p>\n

Knight disputed a report in Crain\u2019s Chicago Business <\/a>Sunday that Wrapports has turned to \u201cother funding sources\u201d for an injection of capital. \u201cThe recent report in Crain\u2019s that Wrapports was seeking outside investment is incorrect,\u201d Knight said. \u201cWrapports has significant remaining capital commitments from our investors to invest in new businesses and opportunities.\u201d<\/p>\n

Besides the Sun-Times and the Herald-News, Sun-Times Media also owns the Aurora Beacon-News, the Elgin Courier-News, the Lake County News-Sun, the Naperville Sun, the Northwest Indiana Post-Tribune and the SouthtownStar, as well as the Chicago Reader and 32 weekly newspapers published by the Pioneer Press.<\/p>\n

Shaw Media owns newspapers, websites and other publications in St. Charles, Crystal Lake, DeKalb, Grayslake, Dixon, Sterling, Princeton and Morris, Illinois, and in Newton and Creston, Iowa.<\/p>\n","protected":false},"excerpt":{"rendered":"

The parent company of the Sun-Times announced the sale Monday of the Joliet Herald-News to Shaw Media for an undisclosed price. The deal is expected to close by the first week in January. \u201cWe are excited to bring the Herald-News into our established, and growing, family-owned media portfolio,\u201d Shaw Media president John Rung said in... Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"_links":{"self":[{"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/posts\/1764"}],"collection":[{"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/comments?post=1764"}],"version-history":[{"count":5,"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/posts\/1764\/revisions"}],"predecessor-version":[{"id":1770,"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/posts\/1764\/revisions\/1770"}],"wp:attachment":[{"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/media?parent=1764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/categories?post=1764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/robertfeder.dailyherald.com\/wp-json\/wp\/v2\/tags?post=1764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}