Title: Printer Friendly Version - New Hollinger payment unveiled
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These are guys who got us into the Iraq War and who are still agitating for World War IV....
 
 
New Hollinger payment unveiled

Saturday, November 22nd, 2003

Hollinger International, the newspaper publisher under investigation for unauthorized payments to founder Conrad Black said it invested $2.5 million in a fund partly owned by board member Richard Perle.

The disclosure comes after Black stepped down Monday and may hinder the company's search for a buyer.

Black quit amid the revelation that he and three partners pocketed $15.6 million without approval, and the Securities and Exchange Commission issued a subpoena seeking company documents the next day.

"Does it ever end?" said John Morton, an independent newspaper analyst. "It does put the company in a position where it might not command as high a price as it otherwise would have. If anybody moves into this thing, they will have exceptional due diligence done."

The investment went to a venture capital fund called Trireme Partners, Hollinger said in a filing with the SEC.

As an investor in Trireme, Perle is entitled to 5% of the returns. He also receives a management fee.

Hollinger director and former Secretary of state Henry Kissinger and Black are advisers to Trireme.

In March, Perle quit as chairman of the Defense Policy Board, which advises Defense Secretary Donald Rumsfeld, after criticism of his work as a paid adviser to bankrupt Global Crossing.

Bloomberg News
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