Lord Conrad Black's passion for former US president Franklin Delano Roosevelt has resulted in strained relations between the newspaper publisher and investors in Hollinger International, the company he runs.

The upcoming publication of Franklin Delano Roosevelt, Champion of Freedom represents the culmination of a 20-year mission for author Lord Black. But the recent disclosure by Hollinger, which publishes the Daily Telegraph and the Chicago Sun-Times, that it purchased $8 million-worth of FDR historical documents has angered at least one shareholder.

The institutional investor alleged that Hollinger's March disclosure suggested Lord Black was using Hollinger's coffers for his own benefit.

However, Lord Black has defended the purchase of the memorabilia.

"This doesn't cause any embarrassment. The value today is undoubtedly more than we paid," he said. - (Financial Times Service)