Conrad Black to sell 'The Jerusalem Post'

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The Independent Online

Conrad Black, the Canadian tycoon who owns The Daily Telegraph, has put The Jerusalem Post up for sale, reviving speculation that he may leave the newspaper business.

Conrad Black, the Canadian tycoon who owns The Daily Telegraph, has put The Jerusalem Post up for sale, reviving speculation that he may leave the newspaper business.

In July, Mr Black took £1.6bn from the sale of most of his 350 North American titles, and The Jerusalem Post is expected to fetch as much as $80m (£56m)

During his 11-year ownership of The Post, he has moved the newspaper away from a left-leaning tradition, which caused controversy earlier this year when the paper's editor, David Makovsky, quit because he felt the paper had moved too far to the right.

The sale of the paper is being dismissed by Mr Black's Hollinger Group as "market rumour", although City analysts seem convinced, if surprised, by the move. Less than two months ago, the group said it would retain ownership of both The Jerusalem Post and The Daily Telegraph.

It was suggested at the time that the sale of the American titles reflected Mr Black's disenchantment with Canadian politics and his level of influence within it, despite his ownership of 53 per cent of Canada's daily newspaper circulation.

But his desire to sell off his newspapers now appears to go beyond North America. No one was available at Hollinger yesterday to comment on whether Mr Black plans to sell The Daily Telegraph.

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