Hollinger Inc. - Wikipedia https://en.wikipedia.org/wiki/Hollinger_Inc.

From Wikipedia, the free encyclopedia

Hollinger Inc. was a Canadian media company based in

Toronto started by Conrad Black. At one time, the Hollinger Inc.
company was the third largest media empire in the Industry Publishing - Newspapers
world.[2] The company went bankrupt in 2007.
Headquarters Toronto, Ontario, Canada
Key people Cyrus F. Freidheim, Jr.
Number of 6,600[1]
employees
Website http://www.hollingerinc.com
1 History
/hollingerinc.htm
1.1 Holdings
1.2 Demise
2 References

Hollinger Inc. was created by Canadian businessman Conrad Black as a holding company for his media
interests after he acquired control of The Daily Telegraph in 1986. The company took its name from
Hollinger Gold Mines, which was started in 1909, and later became Hollinger Mines, owner of one of the
world's largest gold mines near Timmins, Ontario. It was acquired by E.P. Taylor's conglomerate, Argus Corp.
Conrad Black took control of Argus in 1978, and sold off its assets by 1985.

Hollinger Inc. was controlled by Canadian-based Ravelston Corporation, which was used as a personal
holding company for Black. Ravelston was placed in receivership in the summer of 2005.

Holdings

Hollinger was the parent company of Chicago-based Hollinger International, whose primary holdings
included a group of Chicago newspapers. Its flagship paper was the Chicago Sun-Times. Hollinger also
owned The Jerusalem Post and interests in Australian and Canadian newspaper chains.[3] Hollinger's
non-Canadian papers were sold to Hollinger International in 1996. In 2000, Hollinger sold its Canadian
newspaper, magazine and internet assets to Canwest Global for $3.5 billion.[4] Hollinger became a holding
company for stakes in various companies, including its controlling stake in Hollinger International.

The ownership structure of Hollinger and other related companies was described as "complex" and
"convoluted."[5]

Demise

A series of non-competition payments and management fees made between 1999 and 2003 to Black and his
associates would later lead to lengthy court and regulatory proceedings.[6] In 2003 and 2004, Black was
removed as owner from Hollinger, and other corporate positions, after there were claims made that he had
looted his companies for personal profit.[7][8] Shareholders learned that the company was facing serious
financial problems.[9] Shortly afterward, a number of court and regulatory orders left the company with no
income or operating business.[7]

On August 2, 2007, Hollinger filed for bankruptcy protection in Canada and the United States.[6] At the time,

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Hollinger Inc. - Wikipedia https://en.wikipedia.org/wiki/Hollinger_Inc.

the company was 78% owned by Black's company Ravelston. Hollinger continued to assert control over
Sun-Media Times Group Inc.[6]

Hollinger Shares were delisted from the Toronto Stock Exchange in August 2008.[10]

1. "Company Profile for Hollinger Inc (CA;HLG.C)". Retrieved 2008-10-14.

2. "Hollinger shareholders 'left out to dry' ". Financial Post. Retrieved 2015-10-21.
3. "Conrad Black settles lawsuits involving Hollinger". The Canadian Press. CBC News. Nov 28, 2014.
Retrieved 30 September 2015.
4. "CanWest Global buys Hollinger's Canadian newspapers - Archives - Ottawa Business Journal". www.obj.ca.
Retrieved 2015-10-21.
5. Hildebrandt, Kai; Soderlund, Walter C. (2005-01-01). Canadian Newspaper Ownership in the Era of
Convergence: Rediscovering Social Responsibility. University of Alberta. ISBN 9780888644398.
6. "Hollinger Inc. seeks bankruptcy shelter; Asserts control over Sun-Times Media". Brantford Expositor. 2
August 2007. Retrieved 21 October 2015.
7. Service, CanWest News. "Hollinger declares bankruptcy, cleans house at Sun-Times". Canada.com. Retrieved
2015-10-21.
8. Beasley, M. S., Frank A Buckless, S. M. Glover, and D. F. Prawitt (2015). Auditing Cases: Instructor Resource
Manual, 6th Edition. Upper Saddle River, NJ. (PDF). Pearson. Retrieved 2016-05-05.
9. York, David Teather in New. "Hollinger Inc faces investors' wrath". the Guardian. Retrieved 2015-10-21.
10. "Hollinger Shares Delisted From the Toronto Stock Exchange". Retrieved 2008-10-14.

Retrieved from "https://en.wikipedia.org/w/index.php?title=Hollinger_Inc.&oldid=718796307"

Categories: Newspaper companies of Canada Companies based in Toronto

Defunct publishing companies of Canada

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