Lord Black isolated as directors desert him

[bemildred]

Lord Black faces a
deepening crisis across his
media empire this week as
his Hollinger Inc holding
company begins an urgent
search for new directors to
replace members of its
audit committee, who
have resigned en masse.

Support for the peer was
ebbing away after the
committee apparently
attempted to have him
ousted as chief executive
and several of his
supporters removed as
directors.

Hollinger Inc is the Toronto-based holding
company that controls the publicly quoted
Hollinger International, through which Lord Black
owns the Telegraph newspaper group, the Chicago
Sun-Times and the Jerusalem Post.

The audit committee's showdown with the rest of
the board failed, and Maureen Sabia, Fredrick
Eaton, Allan Gotlieb and Douglas Bassett, all
independent directors, said they could no longer
hold their posts in the company.

Independent UK

[AlabamaYankee]

1. I thought there was a post earlier today

That state the Carlyle Boys were moving to shore him up. Or maybe just pick Hollinger's carcase like the jackals they are.

[Tinoire]

2. Yep... Pentagon bankers may bail out Black

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=235894

Pentagon bankers may bail out Black

'Ex-Presidents Club' ready to throw lifeline to embattled Telegraph owner

Jamie Doward and Jessica Hodgson
Sunday November 23, 2003
The Observer


A powerful banking group with close links to the Pentagon, which has also invested money on behalf of the Bin Laden family, is in talks to bail out beleaguered Daily Telegraph owner Conrad Black.
The revelation suggests that Britain's bestselling broadsheet - coveted by rival newspaper barons because of its political influence - may not go under the hammer after all, as Lord Black tries to quell a shareholder rebellion in the face of allegations that he and several acolytes pocketed millions of dollars that was not theirs to take.

<snip>

Carlyle, - which employs former Prime Minister John Major as a director, boasts George Bush Snr and his Secretary of State, James Baker, as advisers, and is headed by Frank Carlucci, Ronald Reagan's Defence Secretary - has invested in media firms previously. The group once owned 40 per cent of France's Le Figaro, and more recently acquired part of French conglomerate Vivendi's publishing assets.

It also part-owns Qinetiq, the Government's privatised defence research laboratories, and CSX Lines, a logistics firm that specialises in shipping heavy equipment for the military. In the past, Carlyle has owned Vinnell, a company that trained the Saudi army.

If Carlyle - which, despite being only 15 years old, manages more than $14 billion in funds on behalf of investors such as George Soros and the Bin Laden family (who are estranged from their son Osama) - does take a stake in Hollinger, questions are bound to be asked over the links between the two firms, both of which have powerful links to the military.

Leading foreign policy hawks Richard Perle and Henry Kissinger sit on the Hollinger board. Black himself is a member of the secretive Bilderberg group, an organisation comprising the world's leading businessmen and politicians, which some have accused of being an alternative world government.

<snip>

http://observer.guardian.co.uk/uk_news/story/0,6903,1091483,00.html

[bemildred]

3. From the story:

...

newspapers, and a number of UK media players are
already circling the Telegraph group. Carlyle
Group, a US private equity firm that had been
tipped as interested in as much as 40 per cent of
Hollinger, yesterday ruled itself out of the running
for any part of the company, but there were reports
...

[Spazito]

4. Geez, more friggin Bush, Perle connections...

this is positively incestuous in its cronyism.

[KoKo]

5. Carlyle is bailing him out. There was a post Friday here about it!

He doesn't have to worry, the BFEE is taking care of him, it always takes care of it's own!

[dobak]

6. He wrote a good Biography on FDR.

He must have a good bone somewhere in his body.

:-)

[Spazito]

7. There is not one good bone in Black's body...

and I believe I read in some article that he used company money to buy the papers, etc, he used to research his material for the book. He is, pure and simply, slime.