US real-estate developer who owns the Daily News, New York, are reported to have been holding talks about a possible takeover of Black’s financial interest in Hollinger International, writes Jeffrey Blyth in New York.
The secret talks have been going on for several weeks, according to The New York Post. The possible deal would give the American publisher, which also owns weekly US News and World Report, an influental stake in not just The Daily Telegraph but also the Jerusalem Post and the Chicago Sun Times. It is estimated that Black’s stake in Hollinger International would fetch about $400m (£230m) – but any buyer would also have to take over about $250m in liabilities.
A spokesman for the Daily News refused to comment on the report.