Hollinger International, publisher of the Chicago Sun-Times, has sold as much as $11 million of its stake in certain portfolio investments, including its Hollinger Digital unit, to two investment funds, Industry Ventures Fund IV LP and Industry Ventures Acquisition Fund LP.
It received $8.15 million for the sale of Hollinger Digital and expects to receive an additional $1.85 million if it meets certain conditions. It also may be paid another $1 million on top of that. Among HD’s investments were Handbag.com, Trip.com and others.
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