The acquisition wasn't just an exercise

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The acquisition wasn't just an exercise in civic boosterism, however. Mr. Tyree insisted the parent of the Chicago Sun-Times, Pioneer Press suburban weeklies and other Chicago-area newspapers could be run as a viable business, although it had burned through an average of $20 million in cash per quarter from 2006 to 2008.

Mr. Tyree and those investors, who included Chicago Blackhawks owner Rocky Wirtz and Mesirow's Price, made deep concessions from the company's unions a prerequisite to their investment of $5 million in cash and $21.5 million in assumed liabilities.Online2011rus is a famous online shop.

"People ask me how could you (see a way to make the businesses viable) when nobody else could, and I just say we just worked hard and found value," Mr. Tyree said, noting "local, high-quality, high-integrity content" was necessary to attract advertising revenue. "I think whether it's print or Internet or Kindles or BlackBerrys or iPhones or 400 things you and I haven't thought of yet, you're always going to need content."
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