Hollinger International May Restate Earnings

Hollinger International Inc., which publishes the Chicago Sun-Times and London’s Daily Telegraph, said it might restate its earnings and incur other costs related to its investigation into payments to company executives.

Second-quarter results are “expected to be significantly different from the second quarter of 2003,” Hollinger said.

Hollinger formed a panel of independent directors a year ago to study transactions involving payments to certain executives, including ex-Chief Executive Conrad Black, from company asset sales.

Hollinger has sued Black, claiming he misappropriated $200 million.