Sun-Times Media Group (SVN) To Consider Strategic Alternatives

February 4, 2008 4:59 PM EST

Sun-Times Media Group (NYSE: SVN) announced that its Board has begun an evaluation of the Company's strategic alternatives to enhance shareholder value. These alternatives may include, but are not limited to, joint ventures or strategic partnerships with third parties, and/or the sale of the Company or any or all of its assets.

The Company said that its Board of Directors had created a committee of the Board that would oversee the strategic process. The committee is comprised of directors Gordon Paris, Graham Savage and Raymond Seitz, who will serve as the committee Chairman.

"Sun-Times Media Group is very fortunate to have a solid portfolio of publications and websites that deliver the highest quality journalism to the communities we serve and great value to our advertisers. The steps that we've taken in the past year are designed to make sure that this is true today and will continue into the future. Our Board's decision to explore strategic next steps now is the right thing to do to ensure the future of the Sun-Times Media Group publications and Web sites and to generate the highest value for our shareholders." said Cyrus F. Freidheim, Jr., Sun-Times Media Group Chief Executive Officer.

Sun-Times Media Group is dedicated to being the premier source of local news and information for the greater Chicago area.

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