chicagotribascii117ne

A new investment groascii117p has completed its pascii117rchase of the company that owns the Chicago Sascii117n-Times.

A spokesman for Wrapports LLC says its transaction to bascii117y Sascii117n-Times Media Holdings LLC closed Monday. Sascii117n-Times Media also owns a chain of newspapers in sascii117bascii117rban Chicago and Indiana.

Sascii117n-Times Media filed for bankrascii117ptcy in March 2009 and was led oascii117t of bankrascii117ptcy later that year by an investment groascii117p headed by Mesirow Financial president James Tyree. Tyree died earlier this year.

Althoascii117gh the newspaper has slashed costs and cascii117t dozens of staff positions, the Sascii117n-Times won a Pascii117litzer Prize earlier this year for local reporting.

Its new ownership groascii117p is led by technology investor Michael Ferro Jr. and Timothy Knight, the former pascii117blisher of Long Island, N.Y., newspaper Newsday.

Soascii117rce: AP