Sauté onion, bell pepper and garlic in oil 3 minutes or until soft. Add mushrooms; cook, covered, over medium heat 3 minutes or until wilted. Uncover pan; continue cooking 5 minutes or until mushrooms are tender and excess liquid has evaporated.
Stir in tomatoes, wine, basil and thyme. Bring to a boil; reduce heat. Simmer 15 to 20 minutes. Add sugar, salt and pepper. Keep hot.