• Associated Press via CBC.ca, Wednesday, June 14, 2006 11:15 AM

Some shareholders of Hollinger International--the publisher once controlled by the indicted Conrad Black--want the company to buy back more stock, the Associated Press reports. They pressed their case this week at the company's annual meeting to CEO Gordon Paris. From his perspective, buybacks would be imprudent to do before disputes with the Canadian and U.S. governments over tax liabilities--possibly as much as $900 million--are resolved. Paris says the company is apt to see some benefits this year from reorganization at its flagship property--the Chicago Sun-Times--but it is still too early to think about providing profit targets. Black, who denies all wrongdoing, will get his day in court in the Windy City later this year. In the meantime, 2006 will be a "transitional year" for the company as it deals with its tax problems, says Paris, who adds that the company faces various possible futures: "We're looking at all alternatives."

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