Torstar Corp., the parent company of the Toronto Star and a host of other media properties across Canada, is being sold to NordStar Capital LP, a private firm owned by businessmen Paul Rivett and Jordan Bitove, in a $52 million deal, Torstar announced Tuesday evening.“Since its inception as the Evening Star, the Star has been the voice of this city.
Under terms of the deal, Bitove and Rivett will acquire all Class A shares and Class B non-voting shares of Torstar for 63 cents per share — a 67 per cent premium to the average trading price of the Class B shares on the Toronto Stock Exchange as of May 25. “We believe in news. With this transaction we can ensure a future for world-class journalists and world-class journalism befitting the Star’s storied history,” Bitove said in Tuesday’s press release. “We are committed to investing in the news business, along with preserving the Atkinson Principles, as fairness and accuracy will continue to guide the papers’ prevailing value system.
So it will continue to be left leaning fakenews with Peterson at the helm. What’s wrong with these people. We want fair and balanced journalism. Do that and your stock will rebound. Many like me have not read a TorontoStar in years. But we did the bias is just to much.
they paid $51,999,999 too much for that birdcage bottom liner.
Overpaid for a propaganda rag.
actually 52 mill. is probably a steal!
hope the windows cant open.....
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