RealTime IT News

Hollinger International Invests in Stockhouse.com

Newspaper publisher Hollinger International Inc. together with Liberty Group Publishing Inc., Community Media Group and Horizons Operation purchased a combined 9 percent stake in StockHouse Media Corp.

StockHouse is an Internet financial media group with offices in the United States, Canada, Australia and Hong Kong.

As part of the financing, StockHouse will receive.$1.5 million Canadian in advertising in Hollinger-owned publications, bringing Hollinger's total equity stake in StockHouse to 7 percent.

Hollinger has agreed to advise and assist StockHouse in its international expansion. Hollinger President and Chief Operating Officer David Radler, will join StockHouse's Advisory Board, and Hollinger Vice President of New Media Frederic Lebolt will become chairman of StockHouse's Advisory Board.

"Hollinger's agreement with StockHouse is an example of an investment enabling us to create a synergy with our online newspaper operations, as well as providing the potential for growth," said Radler.

StockHouse.com, (USA) StockHouse.ca (Canada) and StockHouse.com.au (Australia) offer investors financial content including charts, quotes, financial news highlights, newsletters and syndicated chat forums.