Business
Hollinger International Completes Sale of Ownership Stakes in Great West Newspaper Group and Fundata for US$40.5 Million
Hollinger International Completes Sale of Ownership Stakes in Great West Newspaper Group and Fundata for US$40.5 Million.
About this update from Glacier Media Inc.
[{"type":"text","content":"\n\n\n\n\nNEW YORK, Dec. 30 /CNW/ -- Hollinger International Inc.\n(NYSE: HLR) (\"the Company\") today announced that its subsidiary Hollinger\nCanadian Publishing Holdings Co. has completed the sale of its 70 percent\ninterest in Great West Newspaper Group Ltd. to Jamison Newspapers Inc. and\nGlacier Ventures International Corp. (TSX: GVC) (\"Glacier\") and its 50%\ninterest in Fundata Canada Inc. to Glacier for total consideration of\napproximately CDN$47.1 million, or approximately US$40.5 million.\nThe Company said that its discussions with Glacier concerning the possible\nsale to Glacier of its remaining Canadian assets continue. The Company said\nthat a definitive agreement has not been reached concerning the sale of these\nremaining assets, and that there can be no assurance that an agreement will\nultimately be reached.\n\nAbout Hollinger International\nHollinger International Inc. (http://www.hollingerinternational.com) is a\nnewspaper publisher whose assets include The Chicago Sun-Times and a large\nnumber of community newspapers in the Chicago area as well as in Canada.\n\nCautionary Statement on Forward-Looking Statements\nCertain statements made in this release are \"forward-looking statements\"\nwithin the meaning of the Private Securities Litigation Reform Act of 1995\n(the \"Act\"). Forward-looking statements include, without limitation, any\nstatement that may predict, forecast, indicate or imply future results,\nperformance or achievements, and may contain the words \"believe,\"\n\"anticipate,\" \"expect,\" \"estimate,\" \"project,\" \"will be,\" \"will continue,\"\n\"will likely result\" or similar words or phrases. Forward-looking statements\ninvolve risks and uncertainties, which may cause actual results to differ\nmaterially from the forward-looking statements. The risks and uncertainties\nare detailed from time to time in reports filed by Hollinger International\nwith the Securities and Exchange Commission, including in its Forms 10 K and\n10 Q. New risk factors emerge from time to time and it is not possible for\nmanagement to predict all such risk factors, nor can it assess the impact of\nall such risk factors on the Company's business or the extent to which any\nfactor, or combination of factors, may cause actual results to differ\nmaterially from those contained in any forward-looking statements. Given...