K Capital outlines its plan for Sun-Times Media to enhance value

By Lisa Kerner

Charlotte, N.C., Dec. 11 - Sun-Times Media Group, Inc. investors led by K Capital Partners, LLC called for certain "value enhancing actions" by the company in a Dec. 11 letter to the company's board of directors.

The letter was included in a schedule 13D filing with the Securities and Exchange Commission.

K Capital urged Sun-Times to:

• Develop a detailed 2008 operating plan with clear targets and communicate the key points to investors;

• Compensate the company's chairman, chief executive officer and directors of the board entirely in equity compensation, with no cash compensation; and

• Immediately finish the previous share repurchase program that was authorized in May 2006.

The reporting persons own 6,426,410 shares, or 9.8%, of the Chicago-based newspaper company's outstanding stock.

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