Thursday, November 5, 2015

Torstar reports flat profit, as Toronto Star readies tablet edition

The Globe and Mail's James Bradshaw writes:
"As print advertising revenue continues to shrink at Torstar Corp., the company is pinning its hopes on a tablet edition of the Toronto Star expected to attract new readers and advertisers.
"Torstar reported flat profit for the fourth quarter of 2014 on Wednesday, but the ongoing plunge in revenue as advertisers move away from print newspapers remains a major drag on results. And the declines show no signs of slowing yet.
"At the Toronto Star, the company’s flagship newspaper, print ad revenue was down 26.9 per cent in the fourth quarter. A 2-per-cent year-over-year fall in revenue from print ads at Metroland Media Group, which owns local papers such as the Hamilton Spectator and Guelph Mercury, was a relative bright spot, marking the slowest decline in more than eight quarters."
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