HOLLLINGER &lt;HLG.TO> PAYING 50 MLN DLRS FOR BUY
  Hollinger Inc will pay about 50 mln dlrs
  cash for its previously reported acquisition of privately owned
  Unimedia Inc, chairman Conrad Black told reporters after the
  annual meeting, confirming a published report.
      Commenting on press reports about the 50 mln dlr price tag,
  Black said, "That would not be wildly inaccurate," although he
  declined to disclose the actual cost.
      Montreal-based Unimedia is Quebec's third largest newspaper
  group, with three French language daily newspapers in Quebec
  City, Ottawa and Chicoutimi, Quebec and four printing plants in
  Ontario and Quebec.
      Black added that Hollinger would also continue seeking
  acquisitions of daily newspapers with circulation under 25,000
  readers. He said Hollinger was currently talking to about 10
  such newspapers in the U.S. where the company currently owns 23
  dailies.
      "There is really no end to the ones that are available," he
  told reporters, although he added that most remaining
  acquisition opportunities are in the U.S.
      He said that Hollinger's 58 pct-owned Daily Telegraph PLC,
  of London, should become profitable in this year's fourth
  quarter.
     
      For full-year 1987, the Daily Telegraph could break even or
  better, said Black, citing major reductions in labor costs and
  improved technology at the Telegraph, Britain's largest
  circulation quality daily. The Telegraph lost 13.2 mln Canadian
  dlrs last year.
      Daily Telegraph chief executive Andrew Knight told
  reporters after the meeting that the Telegraph's daily
  circulation had risen by 25,000 since September to about
  1,150,000 on weekdays, despite added competition from the new
  Independent daily newspaper.
     
      Knight said The Independent was not affecting the
  Telegraph's growth, but was making inroads into the circulation
  of other London quality dailies such as The Times and The
  Guardian.
      Hollinger chairman Black predicted Hollinger would post
  1987 net income of about 55 mln dlrs, or one dlr a share,
  including extraordinary gains from previous sales of
  discontinued operations. Hollinger lost 87 mln dlrs or 6.54
  dlrs a share last year on fewer average shares and after an
  extraordinary loss of 52 mln dlrs.
     
      Black told shareholders that first quarter operating
  earnings on continuing operations amounted to 499,000 dlrs
  against a year-ago loss of 165,000 dlrs.
      Revenues on continuing operations rose to 102.1 mln dlrs
  from 1.5 mln dlrs last year, which did not include Daily
  Telegraph revenues, he added. Consolidated first quarter
  figures were not disclosed.
      He said the Daily Telegraph's first quarter operating loss
  was sharply reduced from last year.
  

