Tronc in talks with Wrapports to acquire Chicago Sun-Times

CHICAGO -- A for-sale sign has been put on the Chicago Sun-Times, and the company that operates rival Chicago Tribune has announced it is interested in owning the newspaper.

Chicago-based Wrapports LLC announced Monday it has agreed to enter into discussions with tronc Inc. after failing to interest other media companies in acquiring the Sun-Times.

In a statement, Wrapports states if tronc acquires the Sun-Times, it would operate the newspaper as a separate unit, keeping in place the independent newsroom.

At one time tronc chairman Michael W. Ferro owned a stake in the Sun-Times. After taking the tronc post last year, he announced plans to donate that stake to a charitable trust to avoid the appearance of a conflict of interest.

Sun-Times publisher and editor-in-chief Jim Kirk said in a statement the acquisition of the newspaper by tronc is an opportunity for the Sun-Times to thrive.