Sun-Times Media Group Inc – ‘8-K’ for 2/28/07 – ‘EX-35’

On:  Thursday, 3/1/07, at 12:36pm ET   ·   For:  2/28/07   ·   Accession #:  950142-7-625   ·   File #:  1-14164

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Current Report   —   Form 8-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report                                         4     11K 
 2: EX-35       Exhibit 99.1                                           2±     8K 

EX-35   —   Exhibit 99.1

                                                                  EXHIBIT 99.1
                                                                  ------------

SUN-TIMES MEDIA GROUP RECEIVES FAVORABLE REVIEW ON INTERNATIONAL TAX LIABILITY  

CHICAGO,  FEB.  28, 2007 --  Sun-Times  Media  Group,  Inc.  (NYSE:  SVN) today 
announced  that it has been  advised  by  representatives  of a foreign  taxing 
authority of a favorable review on a foreign tax matter.                        

The Company has undergone an evaluation as to the impact, if any, that this has 
on its financial  statements  for the year ended  December 31, 2006,  including 
whether the Company's accruals for foreign tax contingencies should be adjusted 
as of December 31, 2006.  While the Company has concluded,  based upon relevant 
accounting  standards,  not to reverse any accruals at this time in  connection 
with this matter,  it noted that it is  continuing  its  negotiations  with the 
relevant tax  authorities to resolve  outstanding  matters and that its accrual 
for these foreign tax contingencies will continue to be evaluated in connection 
with future financial statements.                                               

The outcome of these negotiations is currently uncertain. This press release is 
being made in the interest of full disclosure to all our stockholders.          

ABOUT SUN-TIMES MEDIA GROUP                                                     

Sun-Times  Media Group,  formerly  known as Hollinger  International  Inc.,  is 
dedicated  to being the premier  source of local news and  information  for the 
greater Chicago area. Its media  properties  include the Chicago  Sun-Times and 
Suntimes.com as well as newspapers and websites serving 120 communities  across 
Chicago. Further information can be found at http://www.thesuntimesgroup.com.   

CAUTIONARY STATEMENT ON FORWARD-LOOKING STATEMENTS                              

Certain statements made in this release are "forward-looking statements" within 
the  meaning  of the  Private  Securities  Litigation  Reform  Act of 1995 (the 
"Act").  Forward-looking  statements include, without limitation, any statement 
that may predict,  forecast,  indicate or imply future results,  performance or 
achievements,  and may contain  the words  "believe,"  "anticipate,"  "expect," 
"estimate,"  "project,"  "will be," "will  continue,"  "will likely  result" or 
similar  words  or  phrases.   Forward-looking  statements  involve  risks  and 
uncertainties,  which may cause actual  results to differ  materially  from the 
forward-looking  statements. The risks and uncertainties are detailed from time 
to time in reports  filed by  Sun-Times  Media  Group with the  Securities  and 
Exchange  Commission,  including  in its Forms 10-K and 10-Q.  New risk factors 
emerge from time to time and it is not possible for  management  to predict all 
such risk factors, nor can it assess the impact of all such risk factors on the 
Company's  business  or the  extent  to which any  factor,  or  combination  of 
factors,  may cause actual results to differ materially from those contained in 
any forward-looking statements. Given these risks and uncertainties,  investors 
should not place undue reliance on forward- looking  statements as a prediction 
of actual results.                                                              

Contact:                                                                        
Tammy Chase                                                                     
(312) 321-3230                                                                  
tchase@suntimes.com                                                             

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing		Date		Other Filings
Filed on:		3/1/07		8-K
For Period End:		2/28/07		8-K
		12/31/06		10-K,  10-K/A,  NT 10-K
				List all Filings