By: E&P Staff
Hollinger International on Monday officially changed its name to Sun-Times Media Group, dropping the moniker that linked it to the companies once controlled by disgraced newspaper mogul Conrad Black — and signifying that what was once a worldwide publishing chain now is centered around a cluster of papers in the Chicago market.
With it Monday announcement, Hollinger International also changed its ticker symbol on the New York Stock Exchange to SVN. The company’s new Web address is www.thesuntimesgroup.com.
“This change reflects our focus on delivering the highest quality local news and information in the Chicago area through our range of media properties, and also that our company is looking to our future rather than the past,” said CEO Gordon A. Paris said in a statement.
The company publishes the Chicago Sun-Times and about 100 other dailies, weeklies and niche publications in and around Chicago.
The name change also distinguishes the company from Hollinger Inc., the holding company based in Toronto whose principal asset is a is a 17.4% equity stake and a 66.8% voting stake in Sun-Times Media Group. Hollinger Inc. is in receivership in a Canadian court. The two companies are in litigation, with the Sun-Times Media Group alleging Black and other key Hollinger executives used the holding company to loot the former Hollinger International of $400 million, and Inc. seeking to counter-sue, claiming that the Chicago publishing company stripped it of properties it once held, including the Daily Telegraph in London.