Collapse of fraudster Conrad Black’s media empire

From British daily The Guardian:

Chicago Sun-Times collapses into a Conrad Black hole

The rump of Conrad Black‘s media empire files for bankruptcy protection after paying $118m in legal fees for the jailed tycoon and his henchmen

* Andrew Clark in New York
* Tuesday 31 March 2009 19.39 BST

The rump of Conrad Black’s former newspaper empire, Sun-Times Media, filed for bankruptcy protection today, citing the burden of paying the disgraced press baron’s legal fees as one of its financial woes.

Previously known as Hollinger International, the Chicago-based Sun-Times group once controlled a global network of papers – including Britain’s Daily and Sunday Telegraph – built up by Black, who controlled the business until he was caught plundering money from shareholders in 2003.

The company, which owns the Chicago Sun-Times and 58 local papers, said it was struggling to cope with slump in advert­ising on top of tax and legal liabilities ­dating back to previous management.

May Conrad Black’s colleague as media multimillionaire, extreme Rightist, warmonger and con man, Rupert Murdoch, follow Conrad Black soon into bankruptcy and into jail. Already there are ominous financial signs about the MySpace part of the Murdoch empire.

3 thoughts on “Collapse of fraudster Conrad Black’s media empire

  1. Pingback: Media fat cat Lord Black freed | Dear Kitty. Some blog

  2. Pingback: ‘British Daily Telegraph cover-up of HSBC tax dodging scandal’ | Dear Kitty. Some blog

  3. Pingback: Barons in the 21st century | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.