American Completes Sun-Times Purchase

Illinois-based American Publishing Co. today completed itsacquisition of the Chicago Sun-Times, Pioneer Press and StarPublications.

Sam S. McKeel, president and chief executive officer of ChicagoSun-Times Inc., said the closing of the sale Thursday marked thebeginning of a review of the newspaper's current growth plans.

"We're looking at our own long-term strategies for growth andhow they will be affected by new ownership - with a different balancesheet and more resources," McKeel said. "This provides us with anopportunity to take a look at everything we do, not only on thepublishing side but internally as well."

American Publishing, based in West Frankfort, Ill., a subsidiaryof Hollinger Inc. of Vancouver, B.C., owns more than 280 newspapersin the United States and publishes the Jerusalem Post, Israel's onlyEnglish-language daily. Hollinger also owns the London DailyTelegraph, the Sunday Telegraph and newspaper properties in Canadaand Australia.

American Publishing owns 97 dailies and 71 weekly newspaperswith a total paid circulation of 802,000.

The Chicago Sun-Times, the nation's ninth-largest metropolitandaily, has a daily circulation of 535,793 with readership of about 2million. Pioneer Press and Star publish 60 weekly and bi-weeklycommunity newspapers in the metropolitan Chicago area. They have acombined circulation of more than 240,000.