WBEZ/Chicago To Acquire Sun-Times
• Two of Chicago’s best-known media brands are tying the knot as the board of directors of Chicago Public Media’s WBEZ voted unanimously Tuesday to acquire the Chicago Sun-Times, which would join WBEZ as a not-for-profit subsidiary of Chicago Public Media. The deal is expected to close Jan. 31.
“This is an important step to grow and strengthen local journalism in Chicago,” said Matt Moog (left), CEO of Chicago Public Media, adding, “A vibrant local news ecosystem is fundamental to a healthy democracy, informed citizens, and engaged communities. Together WBEZ and the Chicago Sun-Times aim to tell the stories that matter, serve more Chicagoans with our unbiased, fact-based journalism, and connect Chicagoans more deeply to each other and to their communities.”
Both WBEZ and the Sun-Times would maintain their own newsrooms, own staff, and own “editorial independence,” according to the organizations. Nykia Wright (right) would remain the CEO of the Sun-Times, but report to Moog. While both organizations would be run independently — and maintain separate Chicago offices — Moog said they expected to share content across the radio, online and in print. Together, WBEZ and the Sun-Times figure to reach a news audience estimated at 2 million per week.
Their respective newsrooms will also be represented by different labor unions, with the Sun-Times aligned with the Chicago News Guild and WBEZ with SAG-AFTRA. Both unions are entering contract negotiations this year. Moog would not say how different pay and benefits across both newsrooms would be reconciled. “There’s no expected changes to pay and benefits than what they have today,” he said.
As WBEZ notes, “The closely-watched deal is being held up as a possible template for other impoverished news organizations whose newsrooms have been gutted by declining advertising revenues, audiences migrating to social media for their news and disinterested media owners unwilling to invest.” For more details about this sizeable transaction, visit wbez.org.
