Robservations on the media beat:
Edwin Eisendrath confirmed Sunday that he will submit a formal offer for the Chicago Sun-Times and the Chicago Reader before the deadline set by the U.S. Department of Justice Antitrust Division and owner Wrapports Holdings LLC at 5 p.m. Monday. The Chicago Federation of Labor and a consortium of other investors has joined the effort by Eisendrath, an international consultant and former Chicago alderman. With encouragement from the Justice Department, they’re offering an alternative to a plan by Chicago Tribune owner tronc to acquire the daily Sun-Times and weekly Reader, under a letter of intent signed last month. Eisendrath declined to comment further or identify other investors in his group. Continue reading