Sun-Times: Former Solo HQ Has A New Owner: Newsweb Corp.

We will report the auction price at which Mr. Eychaner, through his Newsweb corporate entity, has been able to acquire the 28 acre facilities along Deerfield Road, in Highland Park, Illinois. However, we won't be able to do so until the deed and transfer tax stamps are filed in Lake County -- but we will do so. You may count on it.

Here is a bit of a Chicago Sun-Times press report (do go read it all) on it, this evening:

. . .Chicago-based Newsweb Corp. is a premier printer of community and ethnic newspapers that has operated for more than 40 years. Its business would not seem to be a growth industry in this era of retrenchment for print media.

And yet it has made a land purchase that suggests big plans by its owner, Fred Eychaner. Newsweb has purchased 28 acres in Highland Park that used to be the home of Solo Cup Co. The property is at 1660 Old Deerfield Road, just west of U.S. 41.

Eychaner is best known here as a supporter of the arts and of liberal politics. His holdings include WCPT-850 AM and affiliated FM stations that carry the banner of “progressive talk.” He made a financial killing in 2002 when he sold WPWR-Channel 50 to Rupert Murdoch for $425 million. . . .

We will keep you posted -- but I am willing to bet that Solo has now taken an asset impairment charge, on the deal. And now, that impairment charge will soon likely belong to Dart Container.