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SEC subpoenas company

Thursday, Nov. 20, 2003 | 10:24 a.m.

Hollinger International Inc., the audit committee of its board and auditor KPMG were subpoenaed by the U.S. Securities and Exchange Commission after Chief Executive Officer Conrad Black quit over unauthorized pay, Hollinger said.

Black moved up his official departure from the publisher of London's Daily Telegraph to today rather than Friday on the advice of counsel, according to a company statement.

Black, a British lord, said on Monday he would step down after the board found that he and three partners pocketed $15.6 million without approval. The Ontario Securities Commission, Canada's biggest stock market regulator, is coordinating with the SEC and making "appropriate inquiries" into the matter, spokesman Eric Pelletier said.

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