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News Tycoon Conrad Black Faces $200M Lawsuit

The Toronto-based Hollinger International publishing giant has filed suit against media tycoon Conrad Black and others, accusing them of bilking the company out of more than $200 million.

The lawsuit filed in federal court in New York City says Mr. Black, the company's former chief executive, worked with other defendants to systematically divert corporate assets to enrich themselves.

The suit says the defendants altered company accounting books to provide a pretext for the payments, or to conceal their actions. It also accuses them of lying to company shareholders.

Mr. Black was forced out of his position by a shareholder revolt in November.

Hollinger International publishes newspapers that include the Chicago Sun-Times, London's Daily Telegraph and The Jerusalem Post.

Some information for this report provided by AP and AFP.