Lord Black may have destroyed himself by being a bit too brazen.
Lord Black did control the company through holding companies and supervoting stock, but his economic interest was just 18 percent.
Although Lord Black is no longer chairman or chief executive, he remains on the board.
Lord Black has since said that he does not intend to make those payments.
Several people close to the situation said they did not expect Lord Black to pay.
When Lord Black took over in 1985, circulation was around 1.2 million.
Lord Black has said that he expects vindication in the case.
"Lord Black has so much power through his controlling stake that maybe he can get away with it," one executive said.
Lord Black's direct share was $11 million, while another $26.4 million went to a private company he controlled.
Lord Black received $7.9 million in 2002, the last year for which his compensation has been disclosed.
Lord Black may have destroyed himself by being a bit too brazen.
Lord Black did control the company through holding companies and supervoting stock, but his economic interest was just 18 percent.
Although Lord Black is no longer chairman or chief executive, he remains on the board.
Lord Black has since said that he does not intend to make those payments.
Several people close to the situation said they did not expect Lord Black to pay.
Lord Black thought that maybe a free press needed profits to remain free.
When Lord Black took over in 1985, circulation was around 1.2 million.
Lord Black has said that he expects vindication in the case.
"Lord Black has so much power through his controlling stake that maybe he can get away with it," one executive said.
Lord Black received $7.9 million in 2002, the last year for which his compensation has been disclosed.
