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Jerusalem Post which running by Canadian Black's media she own more than 125
Magazine and newspapers!Global to buy rest of Black's Post
WebPosted Thu Aug 23 21:50:48 2001TORONTO - Media magnate Conrad Black is
selling the rest of his shares in the National Post
to a television network, officials confirmed late
Thursday.CanWest Global Communications, which
already owns 50 per cent of the broadsheet
newspaper, will take full control.A formal announcement will probably be made by
Black's company, Hollinger Group, on Friday.Black, who launched a newspaper war against
the Globe and Mail when he founded the Post
almost three years ago, is expected to resign as
publisher within two weeks.In a news release, CanWest said it plans "to take
a much more active role in the National Post's
management in preparation for the ownership
transition."Hollinger used to be Canada's largest newspaper
company, controlling more than half of the
country's dailies. Last year, it sold the majority of
its papers to CanWest Global for more than $3
billion.FROM JULY 31, 2000: $3.5 billion
CanWest-Hollinger deal horrifies unionThat deal included 50 per cent of the Post. At the
time, Black denied he was abandoning the newly
created paper. He said he wanted to focus on his
company's international publications, including
the London Telegraph, the Jerusalem Post, and
the Chicago Sun-Times.Post-Black era to begin at
National Post
WebPosted Fri Aug 24 22:20:21 2001TORONTO - Media magnate Conrad Black is
selling the rest of his shares in the
money-losing National Post to the owners of
the Global television network.Word of the deal surfaced Thursday night, but
wasn't officially confirmed by Black's
company, Hollinger Group, until Friday.CanWest Global Communications, which
already owns 50 per cent of the broadsheet
newspaper, will take full control. The price
paid for the remaining shares has not been
made public.In a statement issued Friday, Hollinger said it
made a "painful" decision to sell because the
newspaper would be better served by a single
resident owner with wider Canadian media
interests.Earlier this year, Black renounced his
Canadian citizenship to become eligible to
accept a title as a British lord.The company also said the split-ownership of
the publication had led to "difficult
ambiguities" in managing the paper.Black, who
launched a
newspaper war
against the Globe
and Mail when he
founded the Post
almost three years
ago, will step down
as publisher Sept. 1.In a news release, CanWest said it plans "to
take a much more active role in the National
Post's management in preparation for the
ownership transition."Hollinger used to be Canada's largest
newspaper company, controlling more than
half of the country's dailies. Last year, it sold
the majority of its papers to CanWest Global
for more than $3 billion.FROM JULY 31, 2000: $3.5 billion
CanWest-Hollinger deal horrifies unionThat deal included
50 per cent of the
Post. At the time,
Black denied he
was abandoning
the newly created
paper. He said he
wanted to focus on
his company's international publications,
including the London Telegraph, the
Jerusalem Post, and the Chicago
Sun-Times.In Friday's statement the company said it was
proud of the Post's success in breaking up the
Toronto "media cartel," and said its efforts
had been successful in championing the
causes of tax cuts and an enhanced role for
private medicine as well as drawing attention
to the brain drain.Both Black and CanWest president Leonard
Asper spoke to Post employees in the
Toronto newsroom on Friday. Some workers
said later they're worried about layoffs at the
paper, which is estimated to have lost more
than $100 million since first rolling off the
presses in October 1998. CBC