Richard Price Named CEO of Chicago Sun-Times Parent Co.

By Steve Cohn

Richard Price (pictured), president and chief operating officer of Chicago Sun-Times parent Mesirow Financial Holdings, was elevated to chairman/CEO on March 17. Announcement by Mesirow’s board of directors followed the March 16 death of corporate chairman/CEO (since 1994) James Tyree due to complications from stomach cancer.

Tyree was credited for saving the Sun-Times in October 2009. Newspaper had been owned since 1994 by the Conrad Black-led Hollinger International. Black’s 2007 conviction for embezzling $6.1 million from Hollinger for personal use (he was released in July 2010) led to the newspaper filing for bankruptcy in March 2009.  Mesirow, through Tyree, paid $25 million–most of which was to pay off past debts–and the newspaper continues to publish.

Price and Tyree had worked together at Mesirow for 30 years, and no change is expected in the direction of the company or of the Sun-Times.