- The Washington Times - Friday, October 29, 2004

TORONTO (Agence France-Presse) — Media baron Conrad Black, facing battles with shareholders in the United States and Canada, will quit as chairman and chief executive officer of the Canadian holding company Hollinger Inc. “within a few days,” the company announced yesterday.

Mr. Black had said in a statement late Thursday that he was offering to buy all outstanding shares of Hollinger Inc. through his private firm called Ravelston.

He has been in a bitter feud with the U.S.-based operating company for the media empire he built, and some reports said the board of the Canadian holding company had also been pressing for his resignation.

The statement said Mr. Black’s “retirement” from Hollinger Inc. “will occur within a matter of days,” and follows “an agreement with Hollinger International in Delaware that Hollinger International will not block Hollinger Inc.’s or Conrad Black’s fair share of any disbursement of the proceeds from the sale of the Telegraph Group,” a reference to the London Daily Telegraph press group.

Mr. Black, who renounced his Canadian citizenship in 2001 in order to take a seat in Britain’s House of Lords, was ousted in January as chairman of the U.S. operating company for his media empire.



The board had claimed he looted the company through a variety of improper payments. Mr. Black has countersued for libel.

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2021 The Washington Times, LLC. Click here for reprint permission.

Please read our comment policy before commenting.

 

Click to Read More and View Comments

Click to Hide