Conrad Black agreed to sell his stake today in Hollinger Inc., the Toronto-based holding company whose sole significant asset is a controlling stake in Hollinger International Inc. of Chicago. Hollinger International is the operating company which controls the The Daily Telegraph, the Jerusalem Post, the Chicago Sun-Times, and other papers.
Today's decision by Lord Black to sell caps a remarkable weekend of events. On Friday, Hollinger International — which is controlled by Black — sues Black and his associates alleging that $200-million (U.S.) was “usurped” from the company. Then on Saturday, Hollinger International fires Black from his job as non-executive vice-chairman.
Lots of ink to be spilled on this in tomorrow's papers. Dan Gillmor believes Conrad Black could be an all-time corporate malefactor.
I've got a piece on this on tonight's CTV National News and the plan tonight is that I'll be on Canada AM shortly after 8 am (9 am in Atlantic Canada andn 9:30 am in Nfld but 8 am everywhere else in Canada) talking about this. My colleagues at our online unit have a story on this up here.
oh no! a rich dude got in trouble.
your just part of the media monopoly.