Conrad Black’s legacy: $200,000,000 in legal fees
If you like numbers—and who doesn’t?—this one’s a beaut. The Chicago Tribune, in reporting on the ongoing catastrophic losses at Conrad Black’s former holding company Sun-Times Media Group Inc. (formerly Hollinger International), reveals that:
Besides the newspaper industry’s historic slump, Sun-Times Media executives blame much of the company’s recent troubles on the legacy of past management when it was known as Hollinger International Inc. It has had to dig out from the aftermath of almost $200 million in legal fees and other liabilities related to former CEO Conrad Black and his longtime partner in the newspaper business, F. David Radler.
And I can remember people’s eyes bugging out of their head when the meter hit $100 million.
• Sun-Times’ loss widens [Chicago Tribune]