Conrad Black has lost his appeal against convictions for fraud and obstructing the course of justice. That means he will now almost certainly serve the six-and-a-half prison sentence handed out to him last year.

That really doesn't leave the former media baron with many cards to play, although his lawyer Andrew Frey has told the Globe and Mail that there are other options, like a re-hearing or going to the US Supreme Court.

Still, the odds are not looking that good.

There is one more alternative: asking President george w bush for a pardon although Black has said that he is not seeking that.