Tim Knight takes reins at Sun-Times Media

Timothy Knight, who was Newsday's publisher for five years before resigning in 2009, has been named chief executive of Sun-Times Media Holdings Inc., owners of Chicago's No. 2 newspaper, the Chicago Sun-Times. An investment group, Wrapports Llc, concluded its purchase of Sun-Times Media on Monday. Knight is a part of Wrapports.

Creditors of Tribune Co., which once owned Newsday, have sued Knight and members of Tribune's board, seeking to recover bonus payments and stock. Knight received the compensation in 2007 and 2008, before Tribune filed for bankruptcy because of huge debt resulting from a leveraged buyout.

Knight did not return calls seeking comment.