The former is an up-by-his-bootstraps entrepreneur who launched a media empire that spans three continents. Black is the silver-spoon scion of a wealthy family whose global publishing assets include Britain's Daily Telegraph and the Jerusalem Post.

Asper, commonly referred to as Izzy, is a lawyer and former journalist, who was once the leader of the Manitoba Liberal party before founding the CanWest television empire.

"Throughout the years he's always worn his liberal affiliations on his chest," said lawyer Richard Good, the Manitoba co-chairman of the federal Liberals' re-election campaign. "Izzy, over the years, has provided advice for campaigns and certainly has been a financial contributor."

In contrast, Black is decidedly conservative and, through his flagship Canadian newspaper the National Post, has been avowedly supportive of the fledgling right-wing Canadian Alliance party, and stingingly critical of the Liberal government of Prime Minister Jean Chretien.

Black, who holds dual Canadian and British citizenship, issuing the Prime Minister and the federal government for allegedly blocking his elevation to Britain's House of Lords.

But, despite their different politics and backgrounds, Asper and Black are long-time business associates and friends.Even before a handshake in Brussels sealed the deal which has CanWest buying Hollinger's Canadian newspaper, magazine and Internet assets, Black, 55, and the 67-year-old Asper had collaborated on another transaction.

In the late 1970s, CanWest bought Crown Trust from Black and his associates and the press baron subsequently served on the board of Asper's company. Coming full circle some 20 years later, Black will take a seat on CanWest's expanded board.

"This is nothing new for us," Asper said on Monday. "We're not strangers. And the more variety, diversity and point of view you get into a boardroom, the better the dialogue and ultimately the consensus." Black is on vacation in Europe and was not immediately available for comment.

On Monday, Asper was full of praise for Black - whom Canadian journalists love to hate - calling him "a visionary" who achieved a miracle in launching the National Post two years ago. Under the CanWest deal, Hollinger will retain 50 per cent of the Post and Black will remain its chairman. Hollinger will continue to run the newspaper for five years because, Asper said, Black wanted to see the money-losing newspaper to profitability.

But the two men are sure to lock horns over the right-wing bent of the Post and its penchant for Liberal-bashing. "It's going to be interesting because you have a grassroots liberal from the Prairies, a strong supporter of the Liberal party in the form of Izzy Asper. Then you have Black who's been known for right-wing, strong conservative tendencies," said newspaper industry analyst Len Kubas. "I'm sure there will be some modifications of some of the editorial positions."

Asked whether the National Post might veer closer to the centre, Asper replied: "Our creed is balance, period." Asper, who has long dreamed of a National network since he bought his first television station in the early 1970s and moved it to Winnipeg from North Dakota, achieved his goal earlier this month when regulators approved an acquisition that placed CanWest as a coast-to-coast media entity.

At the time, the outspoken Asper said he had a "treaty with God" to expand his company's operations and would not retire until he achieved that goal.In April, Black, frustrated by Hollinger's languishing share price, put most of the company's assets up for sale in a move seen by analysts as the publishing baron's way of easing completely out of the newspaper business.

Monday's deal originated during discussions on an alliance between a Hollinger and a CanWest Website. Talk soon turned to a bigger partnership and the two media magnates met in New York in May to sound each other out. Four weeks later, Black and Asper met in Brussels to seal the deal.Five years after cable and telephone companies touted the arrival of convergence, broadcasters and publishers appear to have reached that goal faster.

On Monday, CanWest, which has now set its sights on the European market, said it was not interested acquiring delivery systems but would focus on content. "There's more to do, that I would like to be part of, in the development of CanWest," Asper said. "We're not fully into the UK and that is an objective. As to the US, I may leave that to the grandchildren."