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Tweedy, Browne cuts stake in Sun-Times Media to 7.08%
By Lisa Kerner
Charlotte, N.C., March 28 - Tweedy, Browne Co. LLC decreased its ownership of Sun-Times Media Group, Inc. to 7.08% from 11.08% with the sale of 1,315,498 shares of the company's stock, according to a schedule 13D filing with the Securities and Exchange Commission.
The shares were sold between Feb. 5 and March 26 priced from $0.81 to $1.41 per share, the filing stated.
The investor now owns 4,627,869 shares of the Chicago newspaper publisher.
As previously reported, Sun-Times Media retained Lazard to assist the company in its review of strategic alternatives, first announced on Feb. 4, which could include joint ventures, strategic partnerships or a sale of the company.
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