Sun-Times looks to extend exclusive periods to continue sale process

By Jennifer Lanning Drey

Portland, Ore., June 26 - Sun-Times Media Group, Inc. requested an extension to its exclusive periods to file a plan of reorganization and to solicit votes on the plan, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

The company wants to extend the exclusive plan-filing period by 90 days to Oct. 27 and the solicitation period by 95 days to Dec. 30, 2009.

The company said since filing for bankruptcy on March 31, it has been focused on finding a buyer for the going-concern sale of its operations.

With that process still unfolding and the company's need to stabilize the business, Sun-Times said it required more time to negotiate and formulate a plan of reorganization.

A hearing is scheduled for July 15.

Sun-Times Media is a Chicago newspaper company that filed for bankruptcy on March 31. Its Chapter 11 case number is 09-11092.

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