Hollinger Inc.

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. Hollinger also owned The Jerusalem Post and interests in Australian and Canadian newspaper chains.[4] 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.[5] 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."[6]

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.[7] 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.[8][9] Shareholders learned that the company was facing serious financial problems.[10] Shortly afterward, a number of court and regulatory orders left the company with no income or operating business.[8]

On August 2, 2007, Hollinger filed for bankruptcy protection in Canada and the United States.[7] At the time, the company was 78% owned by Black's company Ravelston. Hollinger continued to assert control over Sun-Media Times Group Inc.[7] Hollinger shares were delisted from the Toronto Stock Exchange in August 2008.[11]