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Conrad Black to be granted bail

CHICAGO, July 19 (UPI) -- A federal appellate court in Chicago Monday ruled former media mogul Conrad Black is entitled to be free on bail while appealing his conviction.

While the 7th U.S. Circuit Court of Appeals decided Black should be released, the Chicago Tribune reported it wasn't clear when that will happen. He's incarcerated in Florida.

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U.S. District Judge Amy St. Eve, who presided at Black's trial in Chicago, will set the terms of his bail.

Black has served more than two years of a 78-month sentence meted out after he was found guilty in 2007 on three counts of fraud and one count of obstruction of justice. However, the U.S. Supreme Court recently set aside the fraud counts, sending the case back to the appellate court for reconsideration.

While the obstruction count against the Canadian-born British citizen still stands, his attorney argues Black could end up spending more time behind bars than his eventual sentence if he is not freed now.

Black owned a string of newspapers -- including The Daily Telegraph in London, The Jerusalem Post, the National Post and the Chicago Sun-Times. He was convicted of diverting money from his company, Hollinger International, to his own use.

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