Hollinger Inc.
| Hollinger Inc. | |
|---|---|
| founding | 1986 |
| resolution | 2008 |
| Seat | Toronto |
| publisher | Conrad Black |
| genus | Holding |
Hollinger Inc. was a Toronto- based Canadian media company founded by Conrad Black . The company was at times the third largest media empire worldwide. The company went bankrupt in 2007.
history
Hollinger Inc. was founded as a holding company by Canadian businessman Conrad Black to control his holdings in various media companies after he bought The Daily Telegraph newspaper in 1986 and took control. The company took its name from Hollinger Gold Mines , which was founded in 1909 and later became Hollinger Mines. It was the owner of one of the largest gold mines in the world near Timmins , Ontario . This company was bought by EP Taylor's Argus Corporation . Conrad Black then took control of Argus in 1978, but sold their assets again in 1985.
Hollinger Inc., in turn, was controlled by Canada-based Ravelston Corporation , which served as the personal holding for Conrad Black. In the summer of 2005, Ravelston was placed under a bankruptcy administrator.
The Holdings
Hollinger Inc. was the parent company of Chicago-based Hollinger International, which consisted primarily of a group of Chicago newspapers. Its flagship was the Chicago Sun-Times . Hollinger Inc. also owned The Jerusalem Post newspaper and had interests in Australian and Canadian newspaper chains. Hollinger's non-Canadian newspapers were sold to Hollinger International in 1996. In 2000, Hollinger Inc. sold its Canadian newspapers, magazines and holdings in CanWest Global Communications for $ 3.5 billion. Hollinger Inc. became a holding company that participated in various companies, including the shares in Hollinger International. The ownership structure of Hollinger and other related companies has been described as "complex" and "convoluted".
The end of the company
A series of payments that were declared as "non-competition" (in English: "not part of the sales transaction") and as administration fees and that were made between 1999 and 2003 to Black and its affiliated companies should result in a longer one Conduct judicial and regulatory proceedings. In 2003 and 2004, Black was removed as the owner of Hollinger Inc. and other corporate positions after allegations and claims were made that he had looted the company out of greed. Shareholders had to take note that the company was in serious financial difficulties. Shortly thereafter, a number of court and regulatory requirements resulted in the company being deprived of any revenue or operations.
On August 2, 2007, Hollinger filed for bankruptcy in Canada and the United States. At this point, 78% of the company was owned by Black's Ravelston company. Hollinger Inc. retained control of the Sun-Media Times Group Inc.
Hollinger Inc.'s shares were delisted from the Toronto Stock Exchange in August 2008.
Individual evidence
- ^ Theresa Tedesco: Hollinger shareholders 'left out to dry'. December 10, 2007, accessed October 21, 2015 .
- ↑ Conrad Black settles lawsuits Involving Hollinger. In: The Canadian Press. November 28, 2014, accessed September 30, 2015 .
- ↑ Michael Hammond: CanWest Global buys Hollinger's Canadian newspapers - Archives - Ottawa Business Journal. (No longer available online.) July 31, 2000, archived from the original on March 4, 2016 ; accessed on October 21, 2015 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ^ Kai Hildebrandt, Walter C. Soderlund: Canadian Newspaper Ownership in the Era of Convergence: Rediscovering Social Responsibility . University of Alberta, 2005, ISBN 0-88864-439-6 , pp. 151 ( books.google.de ).
- ^ A b c Gary Norris: Hollinger Inc. seeks bankruptcy shelter; Asserts control over Sun-Times Media. (No longer available online.) In: Brantford Expositor. August 2, 2007, archived from the original on March 4, 2016 ; accessed on October 21, 2015 . Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ a b A Hard One to Spin - It was Tammy Chase's job to make layoffs at Sun-Times Media sound good. But now the company can't afford that either. In: chicagoreader.com. Retrieved November 2, 2016 .
- ↑ MS Beasley, Frank A. Buckless, SM Glover, DF Prawitt: Auditing Cases: Instructor Resource Manual, 6th Edition. Upper Saddle River, NJ. Pearson, Boston 2015, ISBN 978-0-13-385210-3 , pp. 79 ( mfile.narotama.ac.id [PDF]). mfile.narotama.ac.id ( Memento of the original from October 10, 2016 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice.
- ↑ David Teather in New York: Hollinger Inc faces investors' wrath . Retrieved October 21, 2015.
- ↑ Hollinger Shares Delisted From the Toronto Stock Exchange. Retrieved October 14, 2008 .
