CHICAGO, March 19 (UPI) -- Former Chicago Sun-Times Publisher David Radler and his companies will pay $63.4 million to settle claims by the Sun-Times Media Group, the company says.
The total includes $21.18 million Radler agreed to pay to settle civil charges he looted the Sun-Times' parent company, then known as Hollinger International.
It will also settle claims against him for backdating stock options.
Radler pleaded guilty to fraud and will testify in the criminal trial of former Hollinger Chairman Conrad Black, the Sun-Times reported.
The remainder of the payment includes $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., the Sun-Times Media Group said.
Horizon and Bradford -- once controlled by Radler and Black -- bought community newspapers from Hollinger while the two men and other Hollinger executives allegedly received millions in fees from the buyers for agreeing not to compete against them, the Sun-Times said.
