IN THE COURTS

HOLLINGER, BLACK AGREE ON EXTENSION OF COURT BAN Conrad Black agreed to give up control of Hollinger International Inc. for an extra three months in return for a company promise to give him his fair share of proceeds from the sale of London’s Daily Telegraph, court papers show. Hollinger International, which publishes the Chicago Sun-Times, is considering whether to use about $700 million from the sale to buy back stock or pay shareholders a special dividend. Mr. Black’s Hollinger Inc., the Canadian company that owns 18% of Hollinger International and holds a majority of its votes, would get a maximum of about $125 million. Mr. Black agreed not fight a proposed extension of court-ordered limits on his involvement in Hollinger International, including exercising his control over the board, one of his lawyers wrote in a letter to Delaware Chancery Court Judge Leo Strine. The ban, which Strine imposed in June, is due to expire on October 31.The extension would run through January 31. Hollinger International filed a motion for an extension in Strine’s court on October 18, arguing that it needed time to decide how to distribute the Telegraph proceeds. Hollinger International also agreed that any decision over the distribution of proceeds will be made by all directors, including Mr. Black and his wife, according to the letter, which was posted on the Chancery Court’s Web site. Hollinger International is a minority investor in The New York Sun.

– Bloomberg News

INTERNATIONAL

KODAK IS CLOSING LABS IN EUROPE, CUTTING 300 JOBS

Eastman Kodak Co. is shutting three photofinishing labs in Spain and Norway, shrinking a fourth lab in Switzerland, and eliminating about 300 jobs as the world’s biggest film manufacturer bets its future on digital photography. The cutbacks will set the company back about $30 million – some $26 million in severance costs and about $4 million in other exit and disposal costs.

In the fourth quarter and next year’s first quarter, Kodak also will record charges of about $2 million for inventory write downs and $13 million for accelerated depreciation on related assets, company spokesman David Lanzillo said yesterday. The cuts were disclosed in a Securities and Exchange Commission filing this week. They fall under a three-year overhaul Kodak announced in January that will trim its work force of 63,800 by 12,000 to 15,000 jobs. The film-development portion of the lab in Renens, Switzerland, will close by the end of this year, Mr. Lanzillo said.

– Associated Press

STATE

STRUGGLING ONEIDA APPOINTS NEW BOARD MEMBERS

ONEIDA, N.Y. – Six new members have been appointed to the board of directors of Oneida Ltd., which has been forced by financial problems to end its manufacturing operations after 124 years.

The new board members are a mix of bankers, consultants and former executives of consumer companies. Each will stand for election to staggered terms during the company’s annual meeting May 25. The board retained its chairman and chief executive, Peter J. Kallet, and members Gregory M. Harden and Peter J. Marshall.

Seven other board members resigned. In a comprehensive restructuring in August, Oneida’s lenders agreed to convert $30 million of debt to common stock. In return, they got to name six members to the nine-member board of directors. Oneida lost $99.2 million last year.

As a result, the company has closed or sold all its factories and now buys most of its china, glassware, and flatware from other companies to resell under the Oneida brand name. It was once the world’s largest maker of silverware. Oneida announced in September that it will close its remaining flatware factory in Sherrill and cut 500 jobs. The factory remains on schedule to close during the first quarter of 2005.

– Associated Press