18 Facts About Torstar Corporation

Torstar Corporation is a Canadian mass media company which primarily publishes daily and community newspapers.

From 1958 to 2020, the class A shares of Torstar Corporation were held by the families of the original Atkinson Foundation trustees.

Torstar Corporation was founded after the Ontario government passed a law barring the provisions of late-Toronto Star owner Joseph Atkinson's will from being enacted.

On November 27,2017, Postmedia and Torstar Corporation announced a transaction in which Postmedia will sell seven dailies, eight community papers, and the Toronto and Vancouver 24 Hours to Torstar Corporation, in exchange for 22 community papers and the Ottawa and Winnipeg versions of Metro.

Torstar Corporation stated that it wanted to focus on building synergies within its existing markets served.

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On December 20,2018, Torstar Corporation applied to the Ontario Superior Court for an order to keep documents seized from its offices by the Competition Bureau sealed from the public.

At the time of the most recent quarter, Torstar Corporation had $69-million in cash on its balance sheet – more than the $52-million acquisition price from Nordstar.

The Torstar Corporation board stated representatives of the trust and Fairfax did not intend to support the CMMH bid.

Torstar Corporation further said that the test to be applied by the court was whether the process leading to the arrangement was fair and reasonable.

Ontario Superior Court Justice Cory Gilmore ruled NordStar, controlled by entrepreneurs Jordan Bitove and Paul Rivett, could close their purchase of Torstar Corporation, setting aside requests from competing bidder Canadian Modern Media Holdings Inc to re-open an auction of the company.

In September 2018, Torstar Corporation announced a deal to acquire the existing political news website iPolitics, effective on 1 October 2018.

Torstar Corporation did announce that iPolitics would maintain its own bureau in Ottawa.

Torstar Corporation has a stake in the Canadian edition of the Chinese-language Sing Tao Daily since 1998.

Torstar Corporation operates websites and message boards that focus on niche categories, particularly within the automotive industry.

Torstar Corporation owns a 20 per cent stake in the Victoria, British Columbia-based newspaper publisher Black Press, and a 16 per cent stake in broadcaster Blue Ant Media.

Torstar Corporation launched a weekly celebrity-based magazine called Scoop in 2005, which folded one year later.

Between late 2005 and early 2011, Torstar Corporation held a 20 per cent stake in CTVglobemedia, a Canadian media company which broke up when BCE Inc, the parent company of Bell Canada, purchased the company's media assets.

On May 2,2014, Torstar Corporation announced the sale of Harlequin Enterprises, a publisher of romance novels, to HarperCollins for $415 million.