Sun-Times Media Group Sale of Assets Approved by Bankruptcy Court Judge

CHICAGO--(Business Wire)--
Sun-Times Media Group, Inc.:

* Buyer Group Led By Local Business Leader James C. Tyree Will Acquire
Newspapers, Web Sites, Other Assets from Sun-Times Media Group
* Sale Includes the Chicago Sun-Times, 58 Other Newspaper Titles, Web Sites
Including YourSeason.com
* Sale Expected To Close By The End of October 2009

Sun-Times Media Group, Inc. (Pink Sheets: SUTMQ), owner of the Chicago Sun-Times
and 58 suburban newspaper titles and corresponding Web sites, is pleased to
announce that the United States Bankruptcy Court for the District of Delaware
today approved the sale of substantially all of the assets of Sun-Times Media
Group to STMG Holdings, LLC, a private investor group led by Chicago businessman
James C. Tyree. The total transaction is valued at approximately $25 million and
is expected to close by the end of October 2009. The closing remains contingent
upon approvals by two of the Company`s 16 bargaining units of amendments to
their collective bargaining agreements. Those agreements are expected to be
reached in the coming days.

"This is a very good day for our award-winning newspapers and Web sites, for our
incredibly dedicated and hard-working employees and for the Chicago community at
large," said Jeremy L. Halbreich, Sun-Times Media Group Chairman of the Board
and Interim Chief Executive Officer. "Six months ago, the Company filed for
Chapter 11 with the goal of stabilizing the business and ensuring the long-term
future of our newspapers and online products. I`m absolutely pleased that we
were able to achieve these goals with the investors in STMG Holdings, LLC in
such a timely manner."

"Mr. Tyree and his co-investors have repeatedly expressed genuine enthusiasm for
the newspapers and Web sites and the business as a whole, and have vowed to
invest in the business as the newspaper industry continues to transform during a
very challenging time. These new owners will work hard to establish a wonderful,
long future for our publications and for our employees, and finally, all of the
legacy issues and distractions that have followed and negatively affected our
products will be put to rest."

"All of our employees - union and non-union - have taken extraordinary steps to
strengthen our organization to become a more efficient Company that is capable
of meeting the demand for news and information in this increasingly digital age.
We thank them for their sacrifices and loyalty during these tough times."

"And we are extremely grateful to our customers - our advertisers and our
readers - for supporting us. Their loyalty has been deeply appreciated, as has
the loyalty of our vendors and suppliers."

Sun-Times Media Group`s legal advisor is Kirkland & Ellis and its investment
banker is Rothschild Inc. Huron Consulting Group is acting as restructuring
advisor to the Company.

More information about the Sun-Times Media Group`s bankruptcy case is available
by clicking on the "Chapter 11 Information" link at www.thesuntimesgroup.com.

About Sun-Times Media Group

Sun-Times Media Group, Inc. is dedicated to being the premier source of local
news and information for the greater Chicago area. Its media properties include
the Chicago Sun-Times and Suntimes.com as well as newspapers and Web sites
serving more than 300 communities across Chicago. Further information, including
updates about the reorganization, can be found at www.thesuntimesgroup.com.

Sun-Times Media Group, Inc.
Tammy Chase, Director of Corporate Communications
(312) 321-3230 or tchase@suntimes.com

Copyright Business Wire 2009