![]() The upheld the jailed former media baron's obstruction-of-justice conviction, for which he was serving a concurrent 6½-year sentence. The special committee and its counsel, former Chairman of the SEC, discovered that had misled the Hollinger directors, including Black, about the extent of his own participation in some of the related party transactions to sell otherwise unclaimed community newspapers in the US and also that two of the smaller transactions involving non-compete payments had not been signed by the vendors. Black agreed citing such fees were standard procedure in the newspaper industry, had been requested by buyers and had been properly disclosed. ![]() Fate of Hollinger Institutional investor opposed the payment of non-compete fees to Hollinger Management in connection with the sales and requested a special committee look into the compensation of management the day before the annual meeting in May 2003. From 1999 to 2000 Hollinger International sold several newspapers in five deals worth a total of CA$3 billion, a total that included millions of dollars in 'non-compete agreements' for Hollinger insiders. ![]() This newspaper was sold throughout the country in direct competition with. ![]()
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