An American publisher cleared a house in Canada that he and his partners had bought in the 1990s, and then sold the property to another Canadian publisher.
In a story published Friday by the Financial Post, the two men, who worked in the advertising and marketing industries for decades, were forced to repay $9 million to the buyer of the house, which is in a Canadian city called Toronto.
The house is a popular tourist attraction, with many tourists visiting to see the cartoon house.
The publisher of the Financial Press, Stephen McQuillan, said he had been trying to sell the house for three years, and had sold it to another American publisher about two years ago, but had never been able to get the paperwork to clear the transaction.
He said the house is now in the hands of a Canadian real estate agent who has asked him to get a copy of the buyer’s contract.
He did not know what his final bill was, McQuallan said in a statement.
The sale was first reported by CBC News.
McQuills said he is not surprised by the Canadian publisher’s decision to close out the sale.
He has known Stephen McQueen for 20 years, he said, and it would have been a mistake for the publisher to sell without a clear buyer.
McQueen said he has no idea how the buyer will be compensated, but that he will continue to keep the house open for people who are interested in seeing it.
“I’m going to keep it open as long as I can,” he said.
The publisher, who did not want to be identified, said the sale will benefit him financially, and that he has been working on a memoir about his life with his family.
It’s been a very tough week for me, and I don’t think I’ve ever felt worse about my job, he added.
In a statement, the publisher said he was looking forward to working with the Canadian real-estate agent to get his agreement signed, which could take about six months.
This is not the first time a Canadian publisher has had a deal blocked in the U.S. The Financial Press is not a newspaper publisher.
Its owner, Peter Schulman, bought the magazine from publisher and founder Paul Koehler in the mid-1990s, after Schulmans career as an editor was cut short by a stroke.
Schulman said Friday that he hopes the publisher will be able to secure a new buyer, and the Canadian publishers’ agreement with him could be signed in the coming weeks.
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