Sun-Times Looking for Some Love

By Timmy Watson in News on Nov 12, 2006 10:00PM

The Sun-Times reported a $34.9 million third-quarter loss and is looking at a possible face lift. Chief Executive Gordon Paris attributes the decline to the Sun-Times low print advertising, which is lower than the already declining newspaper advertising industry.

The paper has already implemented a new media strategy to take advantage and keep pace with the changing media machine. The CEO is stepping down at the end of the year, but has said the company needs to go beyond its current strategy.

The Sun-Times has had to weather quite the storm in the past few years, ex-CEO Conrad Black will go on trial in March for fraud and racketeering charges and the third CEO in as many years will be taking over in January. With the company going through tempestuous times, we surprised to hear current CEO Gordon Paris will be receiving $2.7 million in severance pay.

Asked about a possible sale of the entire company, Chief Financial Officer Gregory Stoklosa said, “We view all options on the table.”