Toronto Star publisher Nordstar Capital LP announced plans to put Metroland Media Group, its regional newspaper business, into bankruptcy protection on Friday.The move. eliminated 605 jobs, or two-thirds of Metroland’s work force, and will convert more than 70 weekly papers into digital-only publications.Nordstar-owned Metroland launched the court-supervised restructuring after suffering what the company called “unsustainable financial losses stemming from the changing preferences of consumers and advertisers.” Court filings show Metroland owes creditors $74.2-million. (From the Globe and Mail)
