Black quitting posts at Hollinger Inc.

Conrad Black, the embattled press baron, said Friday he would give up his posts as CEO and chairman of Hollinger Inc., a Canadian holding company, to ease his plan to take the company private.

Even if the deal goes through, however, Black would still remain the controlling shareholder of Hollinger International Inc., a Chicago-based newspaper publisher that wants to recover some $400 million that the company says was improperly diverted to Black and his associates.

Black would also retain voting control of Hollinger International. The proposed privatization of Hollinger Inc. — Hollinger International's Toronto-based parent company — would make Hollinger Inc. a wholly-owned subsidiary of Ravelston Corp., a private company that Black also controls.

Black's decision to leave Hollinger Inc. came as Catalyst Fund General Partner I Inc., a recent investor in Hollinger Inc., sought to have him and several others removed by an Ontario judge.

Black has already been ousted as chairman and chief executive at Hollinger International, after an internal investigation found that he and others looted the company of hundreds of millions of dollars.

If Black succeeds in taking Hollinger Inc. private, it would be subject to fewer regulatory requirements, such as publishing quarterly financial results and keeping independent directors on its board.

For Subscribers

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

Black faces court cases and securities commissions investigations in Canada and the United States stemming from the Hollinger accounting controversy.

For Subscribers

FOR SUBSCRIBERSAbdul El-Sayed tries to woo MAHA voters as Democrats seek inroads with RFK’s supporters

FOR SUBSCRIBERSKratom-like substances are popping up in a typically benign supplement

FOR SUBSCRIBERSGOP super PAC increases its spending for Sen. Jon Husted in tough Ohio race

FOR SUBSCRIBERSRecords reveal tumultuous marriage between slain New York Times executive and wife

FOR SUBSCRIBERSFrom clean energy warrior to ‘wall of shame,’ James Talarico reverses on a fossil fuel money pledge

FOR SUBSCRIBERSCongressional staff planned official trip with luxury stops in Italy and France weeks before election

FOR SUBSCRIBERSA harrowing ordeal aboard an Israel-bound plane

FOR SUBSCRIBERSOpenAI CEO Sam Altman to skip congressional hearing on rogue AI agents

FOR SUBSCRIBERSKey DOJ lawyers departed Trump ‘grand conspiracy’ probe amid pressure to produce, source says

FOR SUBSCRIBERSTrump’s new AI chatbot often links to a site launched under Clinton 26 years ago

FOR SUBSCRIBERSAt MAHA summit, industry CEOs the movement once vilified take the stage

FOR SUBSCRIBERSThis Paralympian has two goals: Win medals and give away $500,000 to her teammates

FOR SUBSCRIBERSCornell rape allegation spotlights stringent New York state laws that have long drawn criticism

FOR SUBSCRIBERSThe debate over AI’s future rages on both coasts

FOR SUBSCRIBERSDecades-old march dispute reignites in Northern Ireland, threatening political crisis

He has denied misappropriating money and has argued publicly and in court that independent directors of Hollinger International approved the disputed transactions.

Hollinger Inc.'s main asset is an 18 percent equity interest and 68 percent voting power in Hollinger International, which owns the Chicago Sun-Times and The Jerusalem Post but recently sold The Daily Telegraph of London for about $1.2 billion.