HOLLINGER INC. was a Canadian media company based in
Conrad Black . At one time, the company was the third largest media
empire in the world. The company went bankrupt in 2007.
* 1 History
* 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
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
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.
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
The Jerusalem Post
The Jerusalem Post and interests in Australian and Canadian
newspaper chains. 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. 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."
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. 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.
Shareholders learned that the company was facing serious financial
problems. Shortly afterward, a number of court and regulatory orders
left the company with no income or operating business.
On August 2, 2007, Hollinger filed for bankruptcy protection in
Canada and the United States. At the time, the company was 78% owned
by Black's company Ravelston. Hollinger continued to assert control
over Sun-Media Times Group Inc.
Hollinger Shares were delisted from the
Toronto Stock Exchange in
* ^ "Company Profile for Hollinger Inc (CA;HLG.C)". Retrieved
* ^ "Hollinger shareholders \'left out to dry\'". Financial Post.
* ^ "
Conrad Black settles lawsuits involving Hollinger". The
Canadian Press. CBC News. Nov 28, 2014. Retrieved 30 September 2015.
* ^ "CanWest Global buys Hollinger\'s Canadian newspapers -
Archives - Ottawa Business Journal". www.obj.ca. Archived from the
original on 2016-03-04. Retrieved 2015-10-21.
* ^ Hildebrandt, Kai; Soderlund, Walter C. (2005-01-01). Canadian
Newspaper Ownership in the Era of Convergence: Rediscovering Social
Responsibility. University of Alberta. ISBN 9780888644398 .
* ^ A B C "
Hollinger Inc. seeks bankruptcy shelter; Asserts control
over Sun-Times Media". Brantford Expositor. 2 August 2007. Retrieved
21 October 2015.
* ^ A B Service, CanWest News. "Hollinger declares bankruptcy,
cleans house at Sun-Times". Canada.com. Retrieved 2015-10-21.
* ^ Beasley, M. S.,
Frank A Buckless
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.
CS1 maint: Multiple names: authors list (link )
* ^ York, David Teather in New. "Hollinger Inc faces investors\'
wrath". the Guardian. Retrieved 2015-10-21.
* ^ "Hollinger Shares Delisted From the
Toronto Stock Exchange".