Summary
WORD reaches me from New York that the board of Hollinger International, fresh from its victory over its former boss, Conrad Black in a Delaware court - which stopped him from selling his controlling stake in the newspaper publisher to my proprietors, the Barclay brothers - has decided on a new strategy: it would like to sell the company intact rather than dispose of the assets individually.
In other words, instead of putting the Telegraph Group, the Chicago Sun-Times, the Jerusalem Post and a collection of North American local newspapers up for auction separately, the board wants to sell their parent company, Hollinger International, a public company quoted on the New York Stock Exchange, as a going concern.See the full content of this document
Extract
Telegraph Is Stuck in No Man's Land ; Media
It is quite a gear change. The process of selling off the assets one by one is already underway. Hollinger's investment bank, Lazard, was soliciting offers for the individual assets before last week's Delaware ruling and is already in receipt of several indicative bids, including offers of more than Pounds 500 million for the Telegraph newspapers.
The board has been discouraged, h...See the full content of this document
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