Radler, his companies to pay $63.4 million
The total includes $21.18 million Radler agreed to pay to settle civil charges that he looted the Sun-Times' parent company, Hollinger International, now called Sun-Times Media Group. It will also settle claims against him for backdating stock options. Radler has pleaded guilty to fraud and will testify in the criminal trial of the company's former chairman, Conrad Black.
The remainder consists of $23.3 million from Radler-owned North American Newspapers Ltd.; $11.78 million from Horizon Publishing Co., and $7.15 million from Bradford Publishing Co., according to the Sun-Times Media Group statement.
The latter two companies -- which were controlled by Radler and Black -- bought community newspapers from Hollinger International, while the two men and other Hollinger executives allegedly received millions in fees from the buyers for agreeing not to compete against them.
Neither Radler nor the companies could be reached for comment Sunday.
Gordon A. Paris, chairman of a special committee of Sun-Times Media Group's directors that negotiated the settlements, said, "Today, the company takes a significant step in obtaining restitution for the acts of the company's controlling shareholders and former management."
The total collected so far comes to $185 million, and the company's committee continues to pursue claims.