CEO tells staff: Wrapports ‘evaluating variety of investments’

While officials of the Sun-Times parent company won’t comment on plans to sell their suburban newspapers to Tribune Publishing, the chief executive officer of Wrapports LLC says he’s “evaluating a variety of investments” to strengthen the company.

A report here Tuesday said Wrapports has agreed sell all of its suburban daily and weekly newspapers to Tribune Publishing, while retaining the Sun-Times daily tabloid and the Reader free weekly, according to sources.

Timothy P. Knight

Timothy P. Knight

Tribune Publishing, parent company of the Chicago Tribune and nine other newspapers nationwide, would acquire the Aurora Beacon-News, the Elgin Courier-News, the Lake County News-Sun, the Naperville Sun, the Northwest Indiana Post-Tribune, the SouthtownStar, and the 32 weekly newspapers published by the Pioneer Press.

Spokesmen for both companies declined to comment.

In response to the story, Wrapports CEO Timothy P. Knight sent an email to employees assuring them that “everything we do is to strengthen the company,” adding: “At present, our parent, Wrapports, LLC, is evaluating a variety of investments to continue to execute our digital strategy and grow the Chicago Sun-Times, one of the country’s great newspapers.”

Here is the text of Knight’s email to staff:

Dear Colleagues:

I know you’ve seen the speculation about the sale of some Sun-Times Media titles. We don’t comment on rumors but I want to assure you that everything we do is to strengthen the company.

At present, our parent, Wrapports, LLC, is evaluating a variety of investments to continue to execute our digital strategy and grow the Chicago Sun-Times, one of the country’s great newspapers.

What I know for sure is that we are entering one of the busiest seasons of our year. I appreciate all of your hard work and continued focus on our readers, advertisers and partners.

Best regards,

Tim Knight