DFAN14A

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the Securities

Exchange Act of 1934

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¨ Soliciting Material Pursuant to §240.14a-12

SUN-TIMES MEDIA GROUP, INC.

(Name of Registrant as Specified In Its Charter)

Davidson Kempner (as defined in the Definitive Proxy Statement)

and the Nominees (as defined in the Definitive Proxy Statement)

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

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On January 5, 2009, Davidson Kempner Capital Management LLC (“DKCM”) issued a press release in connection with the solicitation of consents by DKCM and certain of its affiliated entities and persons from holders of shares of Class A Common Stock, par value $0.01 per share, of Sun-Times Media Group Inc. (“Sun-Times”), with respect to the recent announcement from the Sun-Times Board of Directors that certain directors will remain on the Sun-Times board. A copy of the press release is attached hereto as Exhibit 1.

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Exhibits

Exhibit 1 — Press Release, dated January 5, 2009

EX-1

Exhibit 1

Davidson Kempner Capital Management LLC Condemns Sun-Times Board Announcement

NEW YORK, January 5, 2009 — Davidson Kempner Capital Management LLC, the sizeable Sun-Times Media Group Inc. (OTC:SUTM) stockholder that is currently undertaking a consent solicitation to replace the current Sun-Times Board of Directors with new directors who are seasoned publishing and turnaround executives, today condemned last Friday’s announcement from the Sun-Times Board abandoning its earlier commitment to replace a number of its current directors by January 1, 2009.

“This decision by the current Board to further entrench itself, despite repeated previous commitments to board renewal should leave every Sun-Times shareholder deeply concerned about the company’s future. Under the incumbent Board of Directors, Sun-Times has experienced serious declines in operating performance, a potentially destructive liquidity crisis, and the almost complete deterioration of stockholder value with shares now trading at a paltry 6 cents per share.

“In addition to these failings, the Board is unable even to identify to stockholders any new directors to join Sun-Times, despite a recruitment effort that by the Board’s own admission has been underway for many months. Friday’s announcement further calls into question the credibility of the Board’s promises to stockholders. The Board’s failure to recruit new directors has nothing to do with Davidson Kempner’s consent solicitation, and everything to do with the dismal track record of the current directors who do not possess the necessary publishing and restructuring credentials.

“Davidson Kempner has proposed a reconstituted board with new directors who we believe have the publishing and restructuring experience and credentials to rescue Sun-Times and create long-term value for its shareholders. We therefore urge Sun-Times stockholders to provide their consents to remove the present Sun-Times Board, and appoint the new appropriately experienced board of directors that we have nominated,” Davidson Kempner said.

If stockholders have any questions, or need assistance in providing their consent, please call Innisfree M&A Incorporated toll-free at (888) 750-5834. (Banks and brokers may call collect at (212) 750-5833).

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Press Contact:

Robert Siegfried or Peter Hill

Kekst and Company

212-521-4800