Media Blog

Sun-Times Media Group Chairman Is Out

Interesting news from the Sun-Times group:

Chairman of the Board, Raymond G. H. Seitz, today announced his intention to resign from the Board of Directors effective December 31, 2008, the Company said. …

The Company announced that, acting on the recommendation of the Special Committee, the Company’s Board of Directors voted and approved the dissolution of the Special Committee effective immediately. The Special Committee was formed on June 17, 2003 to investigate related-party transactions and other payments made to certain executives of the Company and its controlling stockholder at the time, Hollinger Inc., and to affiliates of Hollinger Inc.

… The Company also announced the resignation of William G. Barker III, Senior Vice President and Chief Financial Officer, who is departing the Company for another opportunity.

… In addition, the Company today announced that the Board of Directors has authorized the Company to terminate voluntarily the registration of the Company’s Class A Common Stock under the Securities Exchange Act of 1934 by making the appropriate filings with the SEC.

Chairman’s out, CFO is out, stock’s getting deregistered — one, two, three.

More Sun-Times news:

Here is how they decided on their unusual Obama-election front page.

Here is more on the boardroom drama.

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