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Sun-Times Media Group's directors to continue in service

Posted on: Mon, 05 Jan 2009 04:34:00 EST

Symbols: SUTM

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Jan 05, 2009 (M2 EQUITYBITES via COMTEX) --
SUTM | Quote | Chart | News | PowerRating -- Sun-Times Media Group Inc (OTCBB:SUTM), a source of local news and
information for the greater Chicago area, announced on Friday (2
January) that three members of the company's board of directors, who
were to resign from the board, have agreed to continue as directors.

Gordon A Paris, Graham W Savage and Raymond G H Seitz, directors of the
company, intended to resign from the board of directors, effective no
later than the end of 2008, as part of a board-initiated restructuring.
However the three directors have agreed to remain on the board until
the company is able to recruit and appoint new directors.

According to the company, this continuation of the director's service
was made necessary by the uncertainty engendered by the consent
solicitation process initiated by Davidson Kempner Capital Management
LLC, which has hampered the company's recruitment of new directors.

As a result of developments in the contested solicitation of consents
initiated by Davidson Kempner the efforts of the company to recruit and
evaluate candidates for its board have been delayed.

The company said that the efforts for recruitment of directors are
ongoing and will continue with the goal of appointing new director
candidates as soon as possible.

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