Chicago—Wrapports, a new company formed by Michael W. Ferro Jr. and Timothy P. Knight, has agreed to acquire Sun-Times Media Holdings, the publisher of the Chicago Sun-Times. Financial terms of the deal, which also includes several local daily and weekly newspapers and more than 40 websites, were not disclosed.
Ferro, who is chairman-CEO of private equity holding company Merrick Ventures, is chairman of Wrapports. Knight, who is a former Newsday publisher, is CEO of Wrapports.
“We look forward to introducing cutting-edge technologies, new content portals and other tools that will expand and drive richer and more satisfying content to readers, while providing more targeted and measurable promotion options for our advertising partners,” Knight said in a statement.