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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
January 27, 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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(Registrants' telephone number, including area code)
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Item 2. Disposition of Assets
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On January 27, 1998, Hollinger International Inc., a Delaware
corporation ("HII"), and Leonard Green & Partners, L.P., a Delaware limited
partnership ("LGP"), closed their previously announced agreement whereby (i)
subsidiaries of HII sold and transferred the assets and liabilities relating to
approximately 80 properties representing about 40% of HII's U.S. community
newspaper group to subsidiaries of Liberty Group Publishing, Inc., a Delaware
corporation and a new community newspaper company formed by LGP ("Publishing"),
and (ii) HII agreed to certain non-compete provisions for an aggregate of
approximately $310 million in cash and other consideration. In connection with
this transaction, Kenneth L. Serota, former Vice President - Law and Finance
and Secretary of HII, has become President and Chief Executive Officer of
Publishing.
Item 7. Financial Statements and Exhibits
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(c) Exhibits
2.1 Asset Purchase Agreement dated November 21, 1997 by and among
Publishing, Green Equity Investors II, L.P., a Delaware limited
partnership ("GEII"), Liberty Group Operating, Inc., a Delaware
corporation ("Operating"), HII, APAC-90 Inc., a Delaware corporation
("APAC-90"), American Publishing (1991) Inc., a Delaware corporation
("AP-91"), and APAC-95, a Delaware corporation ("APAC-95") (filed as
Exhibit 2.1 to HII's Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 26, 1997)*
2.2 Asset Purchase Agreement dated November 21, 1997 by and among
Publishing, GEII, Operating, American Publishing Company of Illinois,
a Delaware corporation ("APC-IL"), HII, APAC-90, AP-91 and APAC-95
(filed as Exhibit 2.2 to HII's Current Report on Form 8-K filed with
the Securities and Exchange Commission on November 26, 1997)*
99 Hollinger International Inc. Press Release dated January 27, 1998**
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* Incorporated by reference.
** Filed herewith.
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3
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: February 3, 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
<TABLE>
<CAPTION>
Sequentially
Exhibit Numbered
Number Exhibit Page
- ------- ------- ------------
<S> <C> <C>
2.1 Asset Purchase Agreement dated November 21, 1997 by
and among Publishing, GEII, Operating, HII, APAC-90,
AP-91 and APAC-95 (filed as Exhibit 2.1 to HII's
Current Report on Form 8-K filed with the Securities
and Exchange Commission on November 26, 1997)*
2.2 Asset Purchase Agreement dated November 21, 1997 by
and among Publishing, GEII, Operating, APC-IL, HII,
APAC-90, AP-91 and APAC-95 (filed as Exhibit 2.2 to
HII's Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 26,
1997)*
99 Hollinger International Inc. Press Release dated
January 27, 1998**
</TABLE>
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* Incorporated by reference.
** Filed herewith.
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EXHIBIT 99
Hollinger International Inc.
P R E S S R E L E A S E
Contact:
Paul B. Healy Peter J. Nolan Ken Serota
Vice President Partner President
Hollinger International Inc. Leonard Green & Liberty Group
Partners, L.P. Publishing, Inc.
(212) 586-5666 (310) 954-0450 (847) 272-2244
HOLLINGER INTERNATIONAL CONCLUDES THE SALE
OF A GROUP OF U.S. COMMUNITY NEWSPAPERS
TO LEONARD GREEN & PARTNERS
CHICAGO, January 27, 1998--Hollinger International Inc. (NYSE: HLR) and
Leonard Green & Partners, L.P. announced today that the sale by Hollinger
International to Liberty Group Publishing, Inc., a new community newspaper
company formed by Leonard Green & Partners, L.P., of approximately 80 community
newspaper properties, as previously announced on November 24, 1997, has been
completed for an aggregate cash consideration of approximately $310 million.
The properties are small market clusters of over 160 publications and
include daily, weekly and free-circulation publications with a total
circulation of approximately 900,000 per week. The properties are located in
11 states with the largest clusters in southern Illinois, Missouri, western New
York and Pennsylvania.
Leonard Green & Partners, L.P. is a Los Angeles-based private merchant
banking firm specializing in organizing, structuring and sponsoring management
buy-outs of established companies. Leonard Green & Partners, L.P. currently
has in excess of $500 million in private equity capital under management.
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 and The Ottawa
Citizen.
For more information on Hollinger International Inc.,
please visit our website at www.hollinger.com
For more information on Leonard Green & Partners, L.P. please
call 1-800-800-4547
