Hollinger Inc. was a Canadian media company based in

Toronto Toronto ( ; or ) is the capital city of the Canadian province of Ontario. With a recorded population of 2,794,356 in 2021, it is the most populous city in Canada and the fourth most populous city in North America. The city is the anch ...

which was established by businessman Conrad Black. At one time, the company was the third-largest media empire in the world. The company went bankrupt in 2007.

History

Hollinger Inc. was used by Conrad Black as a

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

for his media interests after he acquired control of ''

The Daily Telegraph ''The Daily Telegraph'', known online and elsewhere as ''The Telegraph'', is a national British daily broadsheet newspaper published in London by Telegraph Media Group and distributed across the United Kingdom and internationally. It was f ...

'' in 1986. The company took its name from Hollinger Gold Mines, which started in 1909 and later became Hollinger Mines, owner of one of the world's largest gold mines near

Timmins, Ontario Timmins ( ) is a city in northeastern Ontario, Canada, located on the Mattagami River. The city is the fourth-largest city in the Northeastern Ontario region with a population of 41,145 (2021). The city's economy is based on natural resource ex ...

. It was acquired by E.P. Taylor's conglomerate, Argus Corporation. Black took control of Argus in 1978, and he sold off its assets by 1985. Hollinger Inc. was controlled by Canadian-based Ravelston Corporation, which was used as a personal holding company by Black. Ravelston was placed in receivership in the summer of 2005.

Holdings

Hollinger Inc. 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 The ''Chicago Sun-Times'' is a daily newspaper published in Chicago, Illinois, United States. Since 2022, it is the flagship paper of Chicago Public Media, and has the second largest circulation among Chicago newspapers, after the '' Chicago ...

''. Hollinger also owned ''

The Jerusalem Post ''The Jerusalem Post'' is a broadsheet newspaper based in Jerusalem, founded in 1932 during the British Mandate of Palestine by Gershon Agron as ''The Palestine Post''. In 1950, it changed its name to ''The Jerusalem Post''. In 2004, the pap ...

'' 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 Canwest Global Communications Corporation, which operated under the corporate name Canwest, was a major Canadian media conglomerate based in Winnipeg, Manitoba, with its head offices at Canwest Place. It held radio, television broadcasti ...

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."

Demise

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 business. 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 August 2008.

References

{{reflist Newspaper companies of Canada Companies based in Toronto Defunct publishing companies of Canada Black family (Canada) Corporate scandals Defunct companies of Ontario