Hollinger Inc. was used by Conrad Black as a
holding company for his media interests after he acquired control of
The Daily Telegraph 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. 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 (now known as the
Sun-Times Media Group), 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. On 16 December 1996, Hollinger sold its 25 percent stake in Australian company
John Fairfax Holdings to New Zealand's Brierley Group for $600 million
USD, partially to help fund the company's recent purchase of
Southam Inc.'s 32 newspapers in Canada. At the turn of the 21st century, Hollinger was the world's third-largest media company. In 2000, Hollinger sold its Canadian newspaper, magazine and internet assets to
Canwest Global for $3.5 billion. Canwest eventually went bankrupt and its newspapers and wire service were bought by
Postmedia Network in July 2010, with the former Hollinger paper,
National Post, as its new flagship paper.
Demise Hollinger became a holding company for stakes in various companies, including its controlling stake in Hollinger International. However, the ownership structure of Hollinger and other related companies was described as "complex" and "convoluted" and lead to its 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. == References ==