Hollinger Inc. was a Canadian media company based in
by Conrad Black. At one time, the company was the third largest media
empire in the world. The company went bankrupt in 2007.
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
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
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^ 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
^ 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, 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".