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The Post-Tribune is for sale and its employees want to buy it.

Workers at the Post-Tribune have launched their bid for an employee purchase of the P-T, the second-largest newspaper in the Sun-Times Media Group’s chain of Chicagoland publications. Sun-Times Media Group in April filed for bankruptcy protection and has actively been seeking new investors or buyers for any and all of the company’s properties. Post-Tribune employees are looking for equity investors to help them finance their purchase, most likely through an Employee Stock Ownership Plan.

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Our Plan.

The employee group, headed by leaders of the Gary Newspaper Guild, has retained consultant Christopher Mackin to help recruit equity investors and prepare a bid for the paper. Mackin is president of Ownership Associates, and has three decades of professional experience in employee ownership transactions. The Guild represents the newsroom staff of the paper, and is coordinating the employee purchase efforts.