Conrad Black said Tuesday he is prepared to accept some responsibility for the circumstances that led to his resignation from the CEO's job at Hollinger International. But he scoffed at suggestions his business career is finished.

Black spoke to reporters outside a bookshop in downtown Toronto, just before he was due to appear for a signing of his new book on Franklin Delano Roosevelt.

"All you fellows that are writing today that I'm finished may not have it right," he said. "I'm still the chairman of the parent company. I'm still the controlling shareholder. I'm co-director of the strategic process and I'm chairman of the Telegraph."

Conrad Black
Conrad Black

"And I made 50 million bucks yesterday. That's a flameout I could get used to."

The comment was a reference to the profit he made, at least on paper, when Hollinger's shares rose dramatically following news of the management shakeup and possible sale of the company.

PROFILE: Conrad Black

But Black admitted a lot of the criticism is fair.

And he acknowledged that dissident Hollinger shareholders, who formally complained this spring of large payments going to Black and other Hollinger executives, have succeeded.

"Yeah, they won," Black said. "And they deserved to win. A sloppy thing like that; they deserved to win."

An independent committee of Hollinger's board found that $32 million in "non-compete" payments were "unauthorized", including a $7.2 million payment to Black himself.

In filings made to regulators last year, the payments to Black and other executives were detailed. But the filings said the payments had been authorized, which was not the case.

"Up to a point, the buck stops here. I'm taking some responsibility," Black said. "I'll write a cheque for $7 million. So don't call me a shirker. I can't stand evasion."

"I take my responsibility, but so must others, including those who produced filings for years that said all these things had been approved. We all assumed that."

Black again insisted he'd done nothing wrong.

"There's been no suggestion of impropriety. Read the press release."