An investor group led by a distant relative of the former Chicago Tribune publisher is raising money in a bid to potentially buy the 171-year-old newspaper from Tronc Inc.
Sargent M. McCormick says he and other investors have formed a new venture fund and are trying to raise money from civic groups and large businesses in Chicago and across Illinois, including Boeing Co. and Caterpillar Inc. The idea is to either acquire the Tribune itself or become the largest shareholder in Tronc, a publishing company that also owns the New York Daily News, the Baltimore Sun and Orlando Sentinel.
