Black Moves To Block Sale Of Hollinger Newspapers

Article Abstract:

The complicated battle between Lord Conrad M. Black, and the Hollinger International board of directors reached a new level after Black used his company Hollinger Inc., which holds Black's controlling interest in the newspaper giant, to redo Hollinger International bylaws and prevent sales of any assets without a 100% board vote of approval. Hollinger International is planning to sell individual properties to various interested parties. Black wants to sell his controlling interest to the UK's Barclay brothers for $178 million in cash. Prior sale of valued newspapers would diminish the impact of Black's worth. A further complication involves secretive payments of $200 million to Lord Black and others that a special committee of Hollinger International is investigating.

Canada, Strategy & planning, Acquisitions & mergers, Government regulation (cont), Government expenditures, Government regulation, Management dynamics, Legal/Government Regulation, Security and Commodity Services, Securities & Commodities Services, Securities, Commodity Contracts, and Other Financial Investments and Related Activities, Delaware, Management, Planning, Laws, regulations and rules, Mergers, acquisitions and divestments, Corporate directors, Company acquisition/merger, Economic policy, Securities industry, Company business management, Company business planning, Lazard Freres & Company L.L.C., Hollinger Inc., Compensation (Business)

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Press Baron Will Quit His Post; Received Unauthorized Payments

Article Abstract:

Conrad M. Black has relinquished his chief executive post of newspaper publisher Hollinger International but will remain chairman while investment bank Lazard finds a buyer for all or separate parts of the company. His departure follows an investigation and revelation that Lord Black and his partners took $15.6 million in unauthorized payments from the company. The Chicago Sun-Times president David Radler also resigned and agreed with Black to repay Hollinger $14 million. Gordon A. Paris will succeed Black as chief executive effective Nov. 21.

Appointments, resignations and dismissals, Radler, David, Paris, Gordon A.

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Charity Begins at Home? Perhaps Not at Hollinger

Article Abstract:

According to a report from a special committee of Hollinger International, the company donated heavily to New York City arts charities such as the Metropolitan Museum of Art and the Metropolitan Opera so that Conrad Black and his wife Barbara Amiel could mix with the city's elite society.

Newspapers, Public affairs, Police Protection, Ethics, Theft, Beliefs, opinions and attitudes, Ethical aspects, Charitable contributions, Charitable donations, Metropolitan Opera, New York Public Library. Friends of Children's Services, Metropolitan Museum of Art

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