Ex-media mogul Black sells Palm Beach mansion

AP News
Posted: Apr 29, 2011 10:59 AM
Ex-media mogul Black sells Palm Beach mansion

Former media mogul Conrad Black has sold his oceanfront Palm Beach mansion for more than $23 million.

County records show a deed for the sale was recorded Thursday. The Palm Beach Daily News quoted a real estate agent as saying a California family bought the property. Black paid $9.9 million for it in 1997.

The house has over 21,000 square feet and boasts a tunnel to the beach.

Black is the Canadian-born former chairman of the Hollinger International media company who was convicted in 2007 of defrauding investors and served two years of a 6 1/2-year sentence. He was freed on $2 million bail pending outcome of his appeals.

An appeals court tossed out some of his convictions and Black faces a June 24 resentencing date for convictions that were upheld.