Consequences of Being a Sociopath

You’re not facing them, that’s for sure:

Conrad Blackcontrolled around 18% of Hollinger,
through a complicated company structure that gave him a higher share of
the voting rights. In 2003, the company had an estimated paper value of
over £550m.

The board of Hollinger International ousted Black in 2004 when theallegations of misappropriation of company funds came to light. The group began to break up that year, with theBarclay Brothers paying $1.33bn (£665m) for the Telegraph group.The Jerusalem Post swiftly followed,
with the Israeli publisher Mirkaei Tikshoret paying $13.2m in cash – a
significant discount on the $20m that Hollinger paid for it in the late
1980s.

Hollinger then offloaded the rest of its Canadian assets
(having sold some to CanWest Global Communications in 2000). This left
the company with almost 80 local papers across Illinois, including its
flagship title the Chicago Sun-Times – and Hollinger broke its
relationship with the Black era by renaming itself the Sun-Times Media
Group. But the media downturn hit the company hard. Operating losses
swelled from $39m in 2006, on revenues of $418m, to $381.1m in 2008
after revenues dropped by nearly a quarter. The following year the
group filed for bankruptcy protection and the sorry saga culminated in
a Chicago investor, James C. Tyree, buying the distressed group for
just $5m plus $20m of debt. Tyree warned in April that printnewspapers willprobably only survive for another decade.

I don’t have words for that last sentence. I’ll have to go with Deadwood (do I need to say NSFW?):

A.

One thought on “Consequences of Being a Sociopath

  1. Interrobang says:

    I wish Conrad Black would fall down the stairs onto fire ants and then get MRSA in the hospital…

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