The board that controls public radio station WBEZ has approved the acquisition of the Chicago Sun-Times, taking a major step forward in a deal to create one of the largest nonprofit news organizations in the country. (Chicago Sun-Times)
The news comes after a surprise announcement last fall that the organizations had signed a letter of intent for the Sun-Times to become a subsidiary of CPM. It also comes after decades of financial trouble for the Sun-Times, which has struggled to survive under a series of owners in a declining newspaper market. (Axios)
WBEZ, which carries National Public Radio shows and co-produces Wait Wait… Don’t Tell Me, and The Sun-Times will share some content while working in separate newsrooms under the Chicago Public Media banner. Together, they will reach an audience of more than 2 million people a week, the organizations said in a news release. (NYT)
Public radio stations have acquired for-profit news competitors in the past—but never at this scale. The deal is expected to be complete by Jan. 31. (WaPo)