‘Chicago Defender’ Sale OK’d

By: Mark Fitzgerald

A $10.9-million deal to buy Sengstacke Enterprises Inc., parent of the daily Chicago Defender and three black weeklies, was approved Nov. 4 by the Cook County, Ill., probate court that has overseen the company since the death of John Sengstacke in 1997 left it with a $3-million estate-tax bill and a family divided over its future.

Real Times Inc., a group led by Tom Picou, a former Defender editor and John Sengstacke’s nephew, would pay $8.5 million for 91% of the publishing company and assume $2.4 million in debt. A Dec. 15 closing is anticipated for the sale.

Follow by Email
Visit Us

Leave a Reply

Your email address will not be published. Required fields are marked *