Chicago Sun-Times owner pays $44.4M for stake in Tribune Publishing

Michael Ferro, the Chicago businessman who owns and controls the Chicago Sun-Times, is locally expanding his media business.

Merrick Media, Ferro's investment firm, paid $44.4 million for a 16.6 percent stake in Tribune Publishing. It owns the Chicago Tribune, a rival of the Sun-Times.

Chicago-based Tribune also owns the Los Angeles Times and nine other daily newspapers.

Read more from USA Today.