Difference between revisions of "Hollinger International"
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| − | Hollinger International was a publishing company who owned [[The Telegraph]], [[The Chicago Sun-Times]] and [[The Jerusalem Post]]<ref>Abigail Rayner, [http://business.timesonline.co.uk/tol/business/article850242.ece Hollinger International to hit Lord Black with fresh legal claims], ''The Times'', 04-May-2004, Accessed 08-May-2009</ref>. | + | Hollinger International was a publishing company who owned [[The Telegraph]],[[The Spectator]], [[The Chicago Sun-Times]] and [[The Jerusalem Post]] until 2004<ref>Abigail Rayner, [http://business.timesonline.co.uk/tol/business/article850242.ece Hollinger International to hit Lord Black with fresh legal claims], ''The Times'', 04-May-2004, Accessed 08-May-2009</ref>. The company changed its name to [[The Sun-Times Media Group]] after a financial scandal involving former directors [[Conrad Black]] and [[David Radler]]<ref>Geraldine Fabrikant, [http://www.nytimes.com/2005/11/18/business/18black.html?_r=1&scp=9&sq=hollinger%20international&st=cse News Tycoon Stole Millions, U.S. Charges], New York Times, 18-November-2005, Accessed 16-May-2009</ref>. |
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| + | ==Neoconservative Connections== | ||
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| + | Hollinger International owned [[The Telegraph]] and [[The Spectator]] while [[Richard Perle]] was one of their directors. [[Devon Cross]] worked with Perle at the [[Defense Policy Board]] which he chaired at the behest of [[Donald Rumsfeld]]<ref>Seymour M. Hersh,[http://www.newyorker.com/archive/2003/03/17/030317fa_fact Lunch With the Chairman], ''The New Yorker'', 17-March-2003, Accessed 15-May-2009</ref>. [[Devon Cross]] was tasked with selling the Iraq War to the British Press including Hollinger publications The Spectator and The Telegraph <ref>Policy Forum, [http://www.policyforumuk.com/b/ About Us], Accessed 08-April-2009</ref>. These lobbying efforts were paid for by the U.S. Defence Department to whom [[Richard Perle]] was an advisor <ref>Jim Lobe, [http://www.ips.org/blog/jimlobe/?p=118#more-118 Is the Pentagon Policy Shop Funding Likudist Fronts?], ''IPS'', 18-March-2008, Accessed 08-April-2009</ref>. | ||
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| + | Hollinger Director Perle was also serving as an advisor to the [[Foundation for Defense of Democracies]], where (FDD) journalist in residence [[Claudia Rosett]] broke the oil-for-food scandal<ref>Daniel McCarthy, [http://www.amconmag.com/article/2003/nov/17/00017/ The American Conservative], 17-November-2003</ref>. At this time [[The Telegraph]] also accused prominent anti-war MP [[George Galloway]] of being in the pay of [[Saddam Hussein]], profiting from the oil-for-food programme and using the Mariam Appeal for personal enrichment. Galloway successfully sued the paper for defamation and received £150,000 in damages. <ref>Chris Tryhorn,[http://www.guardian.co.uk/media/2004/dec/02/Iraqandthemedia.politicsandthemedia Galloway wins libel case against Telegraph], ''The Guardian'', 02-December-2004, Accessed 14-May-2004</ref> | ||
==Conrad Black Controversy== | ==Conrad Black Controversy== | ||
| − | According to a Report by the Hollinger board the company was "systematically manipulated and used by its controlling shareholders for their sole benefit". Key shareholders [[Conrad Black]] and [[David Radler]] transferred to themselves and their affiliates more than $400 million in a seven year period<ref>Richard Breeden,[http://www.sec.gov/Archives/edgar/data/868512/000095012304010413/y01437exv99w2.htm Special Committee of the board of directors], ''Hollinger International'', 30-August-2004, Accessed 09-May-2009</ref>. Black was given a six and a half year sentence for fraud and obstruction of justice for his part in the affair<ref>Andrew Clark, [http://www.guardian.co.uk/business/2008/mar/03/conradblack.ukcrime Conrad Black Jailed], ''The Guardian'', 3-March-2008, Accessed 09-May-2009</ref>. | + | According to a Report by the Hollinger board the company was "systematically manipulated and used by its controlling shareholders for their sole benefit". Key shareholders [[Conrad Black]] and [[David Radler]] transferred to themselves and their affiliates more than $400 million in a seven year period<ref>Richard Breeden,[http://www.sec.gov/Archives/edgar/data/868512/000095012304010413/y01437exv99w2.htm Special Committee of the board of directors], ''Hollinger International'', 30-August-2004, Accessed 09-May-2009</ref>. Black was given a six and a half year sentence for fraud and obstruction of justice for his part in the affair<ref>Andrew Clark, [http://www.guardian.co.uk/business/2008/mar/03/conradblack.ukcrime Conrad Black Jailed], ''The Guardian'', 3-March-2008, Accessed 09-May-2009</ref>. |
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| + | The investigation began when in March 2003 a Hollinger annual report disclosed details of "non-competition" payments - in one case of $53m to a company owned by Conrad Black. Eight months later, David Radler resigned with an agreement to pay back unauthorised fees of $7.2m. On the same day, Conrad Black quit as chief executive. Non-competition payments are usually paid to business sellers so that they don't re-enter the market straight away. These transactions were allegedly paid to individuals, instead of to Hollinger<ref>David Teather, [http://www.guardian.co.uk/business/2005/sep/21/corporatefraud.thedailytelegraph Conrad Black's right-hand man pleads guilty to $32m fraud], ''The Guardian'', 21-September-2005, Accessed 26-May-2009</ref>. | ||
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| + | Conrad Black was jailed for 78 months for his part in the fraud. Other directors also given prison sentences were David Radler 10 months, John Boultbee 27 months and Peter Atkinson 24 months<ref>CBS News, [http://www.cbc.ca/money/story/2007/12/10/conradsentence.html Conrad Black sentenced to 78 months in jail], ''CBS News'', 10-December-2007, Accessed 26-May-2009</ref> | ||
==Board of Directors== | ==Board of Directors== | ||
| − | [[Conrad Black]] | [[David Radler]] | [[Henry Kissinger]] | [[James R | + | [[Conrad Black]] | [[David Radler]] | [[Henry Kissinger]] | [[James R Thomson]] | [[Richard Perle]] <ref>Jim Kirk, [http://www.chicagotribune.com/news/local/chi-0409010185sep01,0,3351209.story?page=1 Probe details Hollinger 'looting'], ''The Chicago Tribune'', 01-September-2004, Accessed 09-May-2009</ref>| [[Alfred Taubman]] | [[Robert Strauss]] | [[Marie-Josee Kravis]] | [[Dwayne Andreas]] | [[Barbara Amiel Black]] | [[Peter Atkinson]] | [[Daniel Colson]] | [[John Boultbee]] | [[Mark Kipnis]] |
| + | <ref>Eric Herman, [http://www.lexisnexis.com/uk/nexis/results/docview/docview.do?docLinkInd=true&risb=21_T6560393701&format=GNBFI&sort=RELEVANCE&startDocNo=1&resultsUrlKey=29_T6560393710&cisb=22_T6560393707&treeMax=true&treeWidth=0&csi=11064&docNo=1 Shareholder lawsuit names Hollinger International directors], ''Chicago Sun-Times'', 3-January-2004, Accessed 14-May-2009</ref> | ||
==Notes== | ==Notes== | ||
<references/> | <references/> | ||
| − | [[Category: | + | [[Category:United States]][[Category:Media Conglomerates]] |
Latest revision as of 22:44, 20 May 2011
Hollinger International was a publishing company who owned The Telegraph,The Spectator, The Chicago Sun-Times and The Jerusalem Post until 2004[1]. The company changed its name to The Sun-Times Media Group after a financial scandal involving former directors Conrad Black and David Radler[2].
Neoconservative Connections
Hollinger International owned The Telegraph and The Spectator while Richard Perle was one of their directors. Devon Cross worked with Perle at the Defense Policy Board which he chaired at the behest of Donald Rumsfeld[3]. Devon Cross was tasked with selling the Iraq War to the British Press including Hollinger publications The Spectator and The Telegraph [4]. These lobbying efforts were paid for by the U.S. Defence Department to whom Richard Perle was an advisor [5].
Hollinger Director Perle was also serving as an advisor to the Foundation for Defense of Democracies, where (FDD) journalist in residence Claudia Rosett broke the oil-for-food scandal[6]. At this time The Telegraph also accused prominent anti-war MP George Galloway of being in the pay of Saddam Hussein, profiting from the oil-for-food programme and using the Mariam Appeal for personal enrichment. Galloway successfully sued the paper for defamation and received £150,000 in damages. [7]
Conrad Black Controversy
According to a Report by the Hollinger board the company was "systematically manipulated and used by its controlling shareholders for their sole benefit". Key shareholders Conrad Black and David Radler transferred to themselves and their affiliates more than $400 million in a seven year period[8]. Black was given a six and a half year sentence for fraud and obstruction of justice for his part in the affair[9].
The investigation began when in March 2003 a Hollinger annual report disclosed details of "non-competition" payments - in one case of $53m to a company owned by Conrad Black. Eight months later, David Radler resigned with an agreement to pay back unauthorised fees of $7.2m. On the same day, Conrad Black quit as chief executive. Non-competition payments are usually paid to business sellers so that they don't re-enter the market straight away. These transactions were allegedly paid to individuals, instead of to Hollinger[10].
Conrad Black was jailed for 78 months for his part in the fraud. Other directors also given prison sentences were David Radler 10 months, John Boultbee 27 months and Peter Atkinson 24 months[11]
Board of Directors
Conrad Black | David Radler | Henry Kissinger | James R Thomson | Richard Perle [12]| Alfred Taubman | Robert Strauss | Marie-Josee Kravis | Dwayne Andreas | Barbara Amiel Black | Peter Atkinson | Daniel Colson | John Boultbee | Mark Kipnis [13]
Notes
- ↑ Abigail Rayner, Hollinger International to hit Lord Black with fresh legal claims, The Times, 04-May-2004, Accessed 08-May-2009
- ↑ Geraldine Fabrikant, News Tycoon Stole Millions, U.S. Charges, New York Times, 18-November-2005, Accessed 16-May-2009
- ↑ Seymour M. Hersh,Lunch With the Chairman, The New Yorker, 17-March-2003, Accessed 15-May-2009
- ↑ Policy Forum, About Us, Accessed 08-April-2009
- ↑ Jim Lobe, Is the Pentagon Policy Shop Funding Likudist Fronts?, IPS, 18-March-2008, Accessed 08-April-2009
- ↑ Daniel McCarthy, The American Conservative, 17-November-2003
- ↑ Chris Tryhorn,Galloway wins libel case against Telegraph, The Guardian, 02-December-2004, Accessed 14-May-2004
- ↑ Richard Breeden,Special Committee of the board of directors, Hollinger International, 30-August-2004, Accessed 09-May-2009
- ↑ Andrew Clark, Conrad Black Jailed, The Guardian, 3-March-2008, Accessed 09-May-2009
- ↑ David Teather, Conrad Black's right-hand man pleads guilty to $32m fraud, The Guardian, 21-September-2005, Accessed 26-May-2009
- ↑ CBS News, Conrad Black sentenced to 78 months in jail, CBS News, 10-December-2007, Accessed 26-May-2009
- ↑ Jim Kirk, Probe details Hollinger 'looting', The Chicago Tribune, 01-September-2004, Accessed 09-May-2009
- ↑ Eric Herman, Shareholder lawsuit names Hollinger International directors, Chicago Sun-Times, 3-January-2004, Accessed 14-May-2009
