Cyrus Freidheim Jr. is the new CEO of Sun-Times Media Group

Cyrus Freidheim Jr. is the new CEO of Sun-Times Media Group

Sun-Times Media Group has said in a statement that they are naming board member Cyrus Freidheim Jr. as its new Chief Executive Officer.

The company is the publisher of Chicago Sun-Times and many other community newspapers around Chicago.

Freidheim is taking over from Gordon Paris who would continue to work at the company as a director and chairperson of the board’s special committee. Paris has been service as the CEO of the company since 2003.

Freidheim said in a statement that he now plans to cut costs and “move quickly” on key decisions involving its Sun-Times News Group newspapers. He said: “Like many other news publications, STNG’s brands face an extremely difficult and rapidly changing operating environment, and they also have the legacy challenge of years of disinvestment. To preserve and enhance their value, as well as value for all of our shareholders, we need to take decisive action to stabilize and then grow revenues, and further reduce costs.”

They also plan to cost its New York based office by the end of the year.