Tuesday, November 18, 2008

Sun-Times Media says chairman, CFO leaving

The Sun-Times Media Group said Tuesday its chairman of the board, several board members and its chief financial officer are all leaving their posts, and the embattled publisher is looking into restructuring its board.

The announcement comes after two major shareholders — K Capital Management and Davidson Kempner Capital Management — have called for the ouster of Sun-Times Media's Chief Executive Cyrus Freidheim Jr. and members of its board, citing the need for dramatic action to turn the company around.

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