Conrad Black Case Summary
Fast forwarding to 1997 Conrad Black started to turn in a new direction for success when he decided to start moving ownership of his newspaper assets into the United States so he could receive greater profit for the same assets. Conrad Black’s assets included Hollinger's interest in Southam and the Sterling Newspapers Company, which owned 26 daily and 49 non-daily newspapers in Canada. Sadly Black’s plan did not go as expected and in less than 1 year his stock fell to about $9.00 before closing when it had been at a high of about $13.13 the previous year. This being said according to Hollinger International Inc. History, “One analyst explained that the company's complex transactions of 1996 and early 1997 turned off a lot of investors, who