A Black Day

‘SCHADENFREUDE is a German word. There is no equivalent in the English language because of course it is not in our make-up to laugh at the misfortunes of others.

The Telegraph’s new City editors

Well, occasionally we might allow ourselves a little chuckle, sometimes a guffaw might escape our lips, and very, very rarely we might be incapacitated with laughter.

And so it is that the travails of Conrad Black, Canadian media baron and owner of the Telegraph, make the front page of the Times, Guardian and Independent this morning.

In fact, the only paper that doesn’t seem to judge the story worthy of such a mention is the Telegraph itself, which relegates it to the business pages.

The Guardian tells its readers that Lord Black ‘resigned in disgrace’ from the helm of his media empire amid expectations that the group would be sold off.

The Indy says the right-wing peer is facing an investigation by US regulators over suspect payments totalling £20m paid to him and three other directors.

And the Times says Black has offered to pay back £4m in an effort to save his empire.

Telegraph readers who battle through to Page 36 learn only that Lord Black is to retire as chief executive of Hollinger International following mounting criticism of the company’s corporate governance.

‘Now,’ he said in a prepared statement, ‘is the appropriate time to explore strategic opportunities to maximise value for all shareholders…blah, blah, blah.’

If, as expected, the Telegraph is now put up for sale, the person seen as most likely to buy it is pornographer Richard Desmond, who already owns the Express, Star, OK! and of course Asian Babes.

What price tits in the Telegraph by Christmas?’

Posted: 18th, November 2003 | In: Broadsheets Comment | TrackBack | Permalink