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Two Names Emerge as Investors in Sun-Times

By Jake Guidry in News on Oct 16, 2009 7:40PM

Photo by wdebalt.
Crain's Chicago reported today that two more names have emerged as investors in the yet-to-be-finalized purchase of the Sun-Times. Businessmen Kevin Flynn (casino owner and CEO of Emerald Ventures, Inc.) and William Parrillo, Sr. (chairman of Safeway Insurance Co.) are reported to be among the group that has served up as much as $5 million in an attempt to revive the struggling newspaper.

The group of high-profile investors, led by Mesirow Financial CEO James Tyree, who is seeking to purchase the Sun-Times and bring it out of bankruptcy. Other known investors are liquor distributor/hockey-team owner Rocky Wirtz and landfill owner Edward Heil. “Chicago is a great city and deserves to have two newspapers,” Flynn said. “The Sun-Times is a great institution. I’d hate to see it go away.”

Tyree has been tussling with unions over concessions involved in his attempted deal and while it seemed a breakthrough in negotiations had been made, it remains to be seen how much another small bump may affect the deal.