Tough year for Torstar as revenue challenges continue

Torstar Corp., owner of the Toronto Star and other Canadian newspapers, announced its fourth-quarter results on Wednesday, posting a $51.9 million net loss for the year as operating revenues slid nearly 12 per cent amid declines in print and digital advertising.

“The TSX has broad discretion regarding delisting,” the company said in its earnings release. “If the TSX determines that we no longer meet the applicable listing requirements, including with respect to the public distribution or liquidity of the Class B non-voting shares, there is a risk that the TSX may delist them.”

Torstar also invested tens of millions of dollars in Star Touch, a tablet-only app that was launched in 2015 and scrapped in 2017 after it failed to attract as many readers as management had hoped. Suspending the dividend saved millions of dollars per year, but also started the clock on a potential shift in the company’s governance structure: There are about 10 million class A shares with voting rights, mostly held by families of the original owners through the Torstar Voting Trust, which is chaired by the company’s board chairman, John Honderich.

Torstar said restructuring in 2019 reduced 640 positions, which will result in $41.3 million in annualized cost savings.

Gee I wonder why. They don’t report the news fairly anymore. They do nothing but preach liberal ideals and activism. I’m glad they discontinued the commuter paper, it did nothing but pollute the subway.

Anything linked to Trudeau is going to have difficulty moving forward. cdnpoli media

I would like to pay $10 (max) per month to read TorontoStar online. They want double that, so I pay them nothing. I bet I am about normal on this.

Bailout incoming!!!!

Didn't all you guys just get federal money?

You mean again. Without Liberal hand outs and condos they would be done. They are CBC Jr. Looks good on them.

God, these replies are insufferable. 'The stuff I disagree with is biased, but the stuff I agree with is unbiased'

Shame.

I have a plan that will make the star of journos change its fortune: start telling the truth, be unbiased, stop the woke nonsense, challenge the extreme left.

Shall we blame this on climate change?

Sucks to be “left” behind

As a former 11 yr old proud Star paper boy, left leaning communist editors have destroyed the paper. Never forget Mayor Ford

Not just the star....

Same would happen to CBC if it wasn't getting government handouts.

I guess twisting every headline to suit their demented ideology didn’t work after all

Can't deep-six this POS soon enough topoli cdnpoli

Don’t worry they’ll just hit up good ole JustinTrudeau for some cash.

Might have something to do with the fact that TorontoStar is a communist rag, best used to line your cat box.

Maybe business would pick up if they stopped pushing the Liberal agenda on everyone FakeNews TorontoStar

Also because I can subscribe to the Liberal Party newsletter and get the same talking points for free

The world would be a better place without that propaganda rag

Good riddance I hope!

A little odd for constantly revenue challenged National Post to promote 'Tough year for TorStar as revnue challenges continue,' as a business story. cdnmedia TorontoStar cdnecon

Let them fold. They’re paid-for paperboy propaganda hacks

Now do Post Media

Those Atkinson principles and 5 of their shares gets you a cup of coffee.

The Red Star has been so biased it is time for its demise.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Oilers in tough spot against Golden Knights? | Follow The Money - Sportsnet.caThe EdmontonOilers have a tough test tonight against a red-hot GoldenKnights team. Here's who FollowTheMoney feel are the betting favourites.
Source: Sportsnet - 🏆 57. / 59 Read more »

U.S. prosecution rejects challenge to 40-year sentence for young CanadianIn addition, they reject arguments from Abdulrahman El Bahnasawy that his fair-trial rights were compromised by the judge’s refusal to let him fire his legal aid lawyers
Source: globeandmail - 🏆 5. / 92 Read more »

New Blockade Disrupts GO Train Service In Southern OntarioAnti-pipeline protesters are making things challenging for commuters.
Source: HuffPostCanada - 🏆 61. / 53 Read more »

John Tavares proud of bounce-back win for Maple Leafs over Lightning - Sportsnet.caJohn Tavares spoke about the Maple Leafs getting a win against a tough opponent in Tampa and looked forward to their game against the Panthers. ShawnMcKenzieSN Yup then an embarrassing loss next game. Rinse and repeat ShawnMcKenzieSN Character is something great players and great teams bring every night, not 50% of the time. You either have it or you don't. This Leafs team does not have it.
Source: Sportsnet - 🏆 57. / 59 Read more »

Blockade protests show signs of settling into cycle of crackdown and escalationThe demonstrations, sparked by opposition to a proposed B.C. gas line, have already become the defining challenge of Justin Trudeau’s second term as PM WAMA1 JUdges need to hold all arrestees without bail. THAT will break the cycle It’s time to end all treaties in Canada with indigenous people they were based on mutual respect and co-operation that no longer exists. cdnpoli Protesters can't take our economy hostage. Blocking the railways has a serious repercussion on our economy and our country. They need to clear the tracks now otherwise, the government should force a solution.
Source: nationalpost - 🏆 10. / 80 Read more »

Feschuk: Leafs’ injury ‘bug’ has become a monsterAndi Petrillo and Dave Feschuk react to the news that Jake Muzzin will miss approximately four weeks with a broken hand and discuss the Leafs’ challenges thi... dfeschuk Wonder what would bring you to that conclusion? TSNHockey dfeschuk Leafs didn’t need a GM that’s still learning that’s the point and why many Leafs fans are pissed. This was the time to experiment with a young GM. TSNHockey dfeschuk I’m sure BlueJacketsNHL feels for them. CBJ
Source: TSN_Sports - 🏆 80. / 51 Read more »