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.