Media World: Supreme Court throws Conrad Black a lifeline

The U.S. Supreme Court today threw a lifeline to imprisoned media baron Conrad Black.

Black, currently serving a 6 1/2 year sentence for mail fraud and obstruction of justice, was convicted in 2007 of stealing $6.1 million from his newspaper publishing empire which included the Jerusalem Post, London's Daily Telegraph, and the Chicago Sun-Times. The company, now called Sun Times Media Group Inc. (SUTMQ), filed for Chapter 11 bankruptcy in March in part because the $608 million it owes in back taxes because of the business practices of Black.