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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
December 4, 1998
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(Date of Earliest event reported)
Hollinger International Inc.
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(Exact name of registrant
as specified in its charter)
Delaware
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(State or other jurisdiction of incorporation)
0-24004
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(Commission File Number)
95-3518892
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(I.R.S. Employer
Identification Number
401 North Wabash Avenue, Chicago, Illinois 60611
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(Address of principal executive offices) (Zip Code)
(312) 321-2299
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(Registrant's telephone number, including area code)
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Item 5. Other Events
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On December 4, 1998, Hollinger International Inc., a Delaware corporation
("HII") and Newspaper Holdings, Inc., a wholly owned subsidiary of Community
Newspaper Holdings Inc., headquartered in Birmingham, Alabama (collectively
"CNHI"), announced that they had executed a letter of intent whereby
subsidiaries of HII will sell approximately 45 of HII's US newspaper properties
to CNHI for approximately $475 million. The transaction is expected to close
early in 1999, subject to customary closing conditions, including the execution
of definitive documentation and clearance under the Hart-Scott-Rodino Act.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
99. Press Release
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Date: December 7, 1998
HOLLINGER INTERNATIONAL INC.
By: /s/ Mark S. Kipnis
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Name: Mark S. Kipnis
Title: Vice President-Law and
Secretary
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EXHIBIT INDEX
Sequentially
Exhibit Numbered
Number Exhibit Page
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99. Hollinger International Inc. Press Release dated 5
December 4, 1998
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5
EXHIBIT 99.
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HOLLINGER INTERNATIONAL INC.
FOR IMMEDIATE RELEASE
Contact:
Todd A. Vogt Michael Reed
Executive Vice President Executive Vice President & CFO
Community Newspaper Division Community Newspaper Holdings, Inc.
Hollinger International Inc. (205) 298-7100
(312) 321-3048
HOLLINGER INTERNATIONAL INC. ANNOUNCES SALE OF
45 COMMUNITY NEWSPAPERS TO CNHI
CHICAGO, DECEMBER 4, 1998-Hollinger International Inc. (NYSE: HLR) today
announced it has reached agreement in principle (subject to standard due
diligence) to sell 45 of its U.S. newspaper properties to Community Newspaper
Holdings, Inc. (CNHI) of Birmingham, Alabama for approximately $475 million.
In addition, Hollinger announced its intent to acquire the daily newspaper in
Effingham, IL from CNHI as part of this transaction.
The properties in the proposed transaction are part of Hollinger's
Community Newspaper Division (American Publishing Co.) and are spread across the
U.S. in small market clusters and include 28 daily newspapers. The properties
are located in 14 states with the largest clusters in Texas, Oklahoma and
Alabama.
Mr. F. David Radler, Deputy Chairman, President and C.O.O. of Hollinger
said, "This sale represents the very best opportunity for Hollinger to realize
the maximum value for the newspapers and to show an excellent return on our
original investment and the work we have put into these papers over the years.
This sale will also allow Hollinger to concentrate on our larger properties in
North America."
Mr. Ralph J. Martin, President and C.E.O. of Community Newspaper Holdings,
Inc. said, "We are extremely excited about the acquisition opportunity this
transaction presents. These are excellent community newspapers that fit
extremely well with CNHI's existing newspaper holdings. Adding newspapers of
this quality to CNHI's family is a great step in the continuing evolution of
CNHI."
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The proposed sale has received the approval of the Board of Directors of
Hollinger. The sale is expected to close early in 1999. No other terms were
disclosed.
CNHI owns and operates more than 130 daily and weekly publications in 20
states.
Hollinger International, Inc., through subsidiaries and affiliated
companies, is a leading publisher of English language newspapers in the United
States, the United Kingdom, Canada and Israel. Included among its paid daily
newspapers are the Chicago Sun-Times, The Daily Telegraph, The Jerusalem Post
and the National Post (Canada)."
FOR MORE INFORMATION ON HOLLINGER INTERNATIONAL INC.,
PLEASE VISIT OUR WEBSITE AT WWW.HOLLINGER.COM
