Ravelston Corporation Limited was a Canadian holding company that was largely controlled by Conrad Black and business partner David Radler. At one time, it held a majority stake in Hollinger Inc., once one of the largest media corporations in the world. The company was placed into receivership in 2005 and went bankrupt in 2008.[1]
History
Ravelston was founded by a group of businessmen including Bud McDougald, Max Meighen and Conrad Black's father George Montegu Black. The company was a holding company for Argus Corporation.[2] In 1978, Conrad Black took control with his brother of Ravelston after his father's death.[3] Black later transformed Ravelston into a holding company which was the head of his global media empire in the 1980s and 1990s.[1] The company was mostly owned by Black, who held a 67% share to Radler's 14%.[4]
At one time, Ravelston controlled 78% of Hollinger Inc.'s stock with Black as CEO and Chairman and Radler as President. Ravelston held shares in Conrad Black's holding companies, such as Hollinger International, now known as Sun-Times Media Group. The Toronto
References
- Paul Walde. Lights out for Black's once-mighty Ravelston The Globe and Mail, 4 December 2008, retrieved 21 October 2015^
- Peter C. Newman. The Canadian Establishment McClelland & Stewart, 2014-04-08^
- Conrad Black. A Matter of Principle