United States
Ex-media mogul Conrad Black convictedPosted Jul 20 2007
A United States federal jury convicted media mogul Conrad Black of Hollinger International Inc. of three counts of mail fraud and one count of obstruction of justice on July 13. His three co-defendants were also found guilty of stealing money from the sale of newspapers in Canada and the U.S.
Black once ran the third largest newspaper empire, which included the Chicago Sun-Times and the U.K.'s Daily Telegraph. He renounced his Canadian citizenship in 2000 to become a British Lord. When Hollinger International began divesting some of its publications, Black and his associates wrote non-compete clauses into the sales agreements that guaranteed them huge bonuses, but Hollinger began posting serious losses in 2002 that met with complaints from stockholders.
The jury acquitted Black of nine other counts, including {such as} racketeering. He faces up to 35 years in prison plus up to $US1 million in fines. Most of the newspapers Black owned have been sold, and Hollinger International is now the Sun-Times Media Group.
For more information: http://www.npr.org/templates/story/story.php?storyId=11948939