The holding company that was at the centre of Conrad Black's collapsed newspaper empire has filed for bankruptcy protection while asserting control over a stake in Sun-Times Media Group.
Toronto-based Hollinger said yesterday it has acted to remove three directors from the board of Sun-Times Media, which owns the Chicago Sun-Timesand community papers in the Chicago area.
Sun-Times Media is Hollinger's main remaining asset.
At the same time, Hollinger is putting six of its nominees on the board, and they will press to put the US newspaper company up for sale.
Yesterday, a US judge ruled Black may not travel to Canada while awaiting sentencing for his fraud conviction.
US District Judge Amy St Eve cited a possibility that the Canadian-born former media mogul could try to stay in his native country and then fight extradition to the United States.
Black, who is free on bond, was convicted on July 13th in Chicago of three counts of mail fraud and one count of obstruction of justice in what federal prosecutors describe as a multi-million-dollar fleecing of Hollinger International, the media empire he once owned.
PA